The Annual Equipment of Pipeline and Oil &Gas Storage and Transportation Event
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China Petrochemical Development Corp. (1314), a chemical producer, rose in Taipei trading after its board approved cash and stock dividend plans.
Shares rose as much as 6.1 percent to NT$33.20 before trading at NT$32.95 as of 10:59 a.m. local time. It was the second-biggest gainer in the MSCI Asia Pacific Index (MXAP) today.
The Taipei-based company plans to pay cash dividend of NT$1.75 a share for 2011 and stock dividend of 17.5 percent, it said in statements to the Taiwan stock exchange yesterday. Shareholders will meet on June 27 to approve the plan, it said.
Along with the rapid development of China's energy industry, China Oil & Gas Pipeline network is experiencing unprecedented great structure, large-scale construction and giant leap. Read More >
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