PetroChina Pays Full Profit as Oil Rally Keeps Cash Churning
- Chinese oil giant proposes divided pay higher than net income
- Earnings nearly triple as company recovers from worst year
Photographer: Brent Lewin/Bloomberg
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PetroChina Co., the country’s biggest oil and gas company, once again rewarded shareholders by paying out its entire net income as dividends.
After a surprise payout from its half-year results in August, the Beijing-based company said Thursday it will send investors dividends that amount to slightly more than its 22.8 billion yuan ($3.6 billion) in 2017 net income.