Glonghui, March 22 | CNOOC (0883.HK) had net profit of 123.843 billion yuan last year, down 12.6% from year to year. Earnings per share were 2.6 yuan, and final interest was paid at HK0.66 cents. The total annual dividend was HK125 cents. Morgan Stanley issued a report stating that the company's core profit for the fourth quarter of last year was in line with the bank's and market expectations, maintained an “increase in holdings” rating, and the target price remained unchanged at HK$18.18. Morgan Stanley said that if the resource tax and impairment preparations were added once, CNOOC's core profit for the fourth quarter was generally in line with expectations. Furthermore, the dividend payout ratio has remained flat year over year, which means that the dividend ratio for H shares is 6.8%, but the dividend ratio will be lower than the market's original expectations.