China Petroleum & Chemical Corporation (SNP) To Go Ex-Dividend on September 18th

China Petroleum & Chemical Corporation (NYSE:SNP) announced a special dividend on Tuesday, August 29th, Wall Street Journal reports. Investors of record on Tuesday, September 19th will be paid a dividend of 1.5115 per share by the oil and gas company on Friday, October 6th. This represents a yield of 6.63%. The ex-dividend date of this dividend is Monday, September 18th.

China Petroleum & Chemical Corporation has decreased its dividend by an average of 21.6% per year over the last three years. China Petroleum & Chemical Corporation has a dividend payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect China Petroleum & Chemical Corporation to earn $5.01 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 53.5%.

Shares of China Petroleum & Chemical Corporation (NYSE:SNP) opened at 78.46 on Friday. China Petroleum & Chemical Corporation has a 12 month low of $67.82 and a 12 month high of $84.88. The firm has a market cap of $94.99 billion, a P/E ratio of 11.54 and a beta of 1.16. The company has a 50-day moving average of $75.92 and a 200-day moving average of $78.91.

Several research firms have commented on SNP. ValuEngine upgraded shares of China Petroleum & Chemical Corporation from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Citigroup Inc. upgraded shares of China Petroleum & Chemical Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of China Petroleum & Chemical Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Mizuho upgraded shares of China Petroleum & Chemical Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Sanford C. Bernstein upgraded shares of China Petroleum & Chemical Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. China Petroleum & Chemical Corporation currently has a consensus rating of “Hold” and an average target price of $89.00.

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China Petroleum & Chemical Corporation Company Profile

China Petroleum & Chemical Corporation is a China-based energy and chemical company. The Company’s segments include Exploration and Development segment, Refining segment, Marketing and Distribution segment, Chemicals segment, and Corporate and Others segment. Exploration and Development segment explores and develops oil fields, as well as produces crude oil and natural gas.

Dividend History for China Petroleum & Chemical Corporation (NYSE:SNP)

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