CPE boosts returns with cash dividend, eyes mid-year payouts

China Petroleum Engineering Corp (SSE:600339) announced plans to distribute a cash dividend of CNY 0.35 per 10 shares, totaling CNY 195.41 million, from its 2024 profits. The decision awaits shareholder approval at the upcoming annual general meeting. In a move to increase shareholder returns and share profits, the board is seeking approval to decide on potential 2025 interim dividend payouts, within certain limitations, provided it meets the necessary conditions. The company also reports that with strong revenues for a FY2024, key financial controls remain in place and with strong progress in meeting financial goals. ShineWing CPAs issued a standard report without any adjustments on behalf of the audit. China Petroleum Engineering has confirmed that the annual net profit for financial operations during FY2024 will provide 30.75% value for company shares. China Petroleum Engineering also reports an additional ¥2.93M earmarked for unspecified project activities during CY2024.