Summary by Futu AI
Sinopec Corp. (referred to as 'Sinopec') held a board of directors meeting on August 23, 2024, and approved the shareholder dividend return plan for the next three years (2024 to 2026). The dividend plan aims to further enhance shareholder returns and stipulates that if the net profit and cumulative undistributed profit of the parent company are positive, and the cash flow can meet the operation and sustainable development of the company, the profit distributed annually in cash shall not be less than 65% of the net profit attributable to the parent company's shareholders or 65% of the profit attributable to the shareholders of the company for the year. The plan also mentions that the dividend plan can be adjusted in the event of force majeure or significant changes in the company's business conditions. The dividend plan shall come into effect after approval by the shareholders' meeting.