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 given 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 payout ratio of 93.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect China Petroleum & Chemical Corporation to earn $6.05 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 73.4%.

Shares of China Petroleum & Chemical Corporation (NYSE:SNP) traded up 0.15% during trading on Tuesday, reaching $75.14. The company’s stock had a trading volume of 293,679 shares. The stock has a 50 day moving average of $75.91 and a 200-day moving average of $79.05. The company has a market capitalization of $90.60 billion, a PE ratio of 11.05 and a beta of 1.17. China Petroleum & Chemical Corporation has a 1-year low of $67.82 and a 1-year high of $84.88.

Several research firms have recently issued reports on SNP. BidaskClub cut China Petroleum & Chemical Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Mizuho upgraded China Petroleum & Chemical Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC cut China Petroleum & Chemical Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Sanford C. Bernstein upgraded China Petroleum & Chemical Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 6th. Finally, Citigroup Inc. upgraded China Petroleum & Chemical Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. China Petroleum & Chemical Corporation currently has an average rating of “Hold” and an average price target 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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