On March 30, China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") announced its annual results for the twelve months ended 31 December 2019 in Beijing.
In accordance with IFRS, the Company's turnover and other operating revenues reached RMB 2.97 trillion, up 2.6% year-on-year at a historic high; Operating profit increased 4.8% year-on-year; Profit attributable to equity shareholders of the Company was RMB 57.5 billion. Basic earnings per share were RMB 0.475.
In accordance with ASBE, the Company's operating profit was RMB 90.0 billion. Profit attributable to shareholders of the Company was RMB 57.6 billion. Basic earnings per share were RMB 0.476.
The Company remained in a solid financial position with stable cash flow. In view of the Company’s funding requirements, return on equity, profitability and cash flow for future development, the Board of Directors recommended the payment of a final dividend of RMB 0.19 per share. Taking into account the interim dividend of RMB 0.12 per share, the total dividend for the year was RMB 0.31 per share, with a dividend payout ratio of 65.3%.
Zhang Yuzhuo, Chairman of Sinopec Corp., stated at the 2019 annual results announcement press conference that the Company will continue to leverage its advantages of integration, aiming to realize a development pattern with energy resources as the backbone, clean energy and synthetic materials as two development wings, and new energy, new economies, and new fields as important growth points.