PetroChina reports 2023 revenue RMB 3T

Net profit attributable to shareholders of the Company increased by 8.3% year-on-year to RMB 161.15 billion, with the return on equity reached 11.1% and the return on invested capital amounted to 10.4%. The Company’s asset-liability structure was further optimized and its financial position continued to be sound. The debt-to-asset ratio was 40.8%, dropped by 1.7 percentage points from the end of last year, the lowest level in 13 years. The debt-to-capital ratio was 15.2%, dropped by 2.2 percentage points from the end of last year, the lowest level in 15 years. Net cash flow from operating activities climbed 16.0% year-on-year to RMB 456.60 billion and free cash flow grew by 17.1% year-on-year to RMB 176.12 billion. Both reached historic highs. In order to return to shareholders, the Board of Directors recommended the payment of a final dividend of RMB 0.23 per share for 2023. The annual dividend for the year was RMB 0.44 per share representing a dividend payout ratio of 50% with annual dividend payment of approximately RMB 80.53 billion. Both the final dividend and the annual dividend hit historic highs.