Sinopec: This 10%-Yielding Chinese Oil Giant Has Become Attractive

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About: China Petroleum & Chemical Corporation (SNP)
by: Aristofanis Papadatos
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Aristofanis Papadatos
Oil & gas, portfolio strategy, value, bonds
Summary

SNP offers an outstanding 10.0% dividend yield and has a decent payout ratio of 79%.

The company has a much higher yield and cheaper valuation than the well-known oil majors.

SNP will greatly benefit from the strong economic growth of China in the coming years.

Most income-oriented investors include some oil majors in their portfolios for their attractive yields. The vast majority of these investors limit their focus on the American and European oil majors, which are by far the