Sinopec Shanghai Petrochemical Co. (NYSE:SHI) declared an annual dividend on Wednesday, April 3rd, Zacks reports. Investors of record on Monday, June 24th will be given a dividend of 3.296 per share by the oil and gas company on Monday, July 29th. This represents a dividend yield of 6.54%. The ex-dividend date is Friday, June 21st.

Sinopec Shanghai Petrochemical has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Sinopec Shanghai Petrochemical to earn $7.01 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 47.1%.

NYSE:SHI opened at $42.70 on Friday. The firm has a market cap of $4.61 billion, a P/E ratio of 7.35 and a beta of 1.05. Sinopec Shanghai Petrochemical has a twelve month low of $41.50 and a twelve month high of $72.36.

Sinopec Shanghai Petrochemical (NYSE:SHI) last posted its earnings results on Monday, April 29th. The oil and gas company reported $0.90 earnings per share for the quarter. The business had revenue of $3.91 billion for the quarter. Sinopec Shanghai Petrochemical had a net margin of 3.95% and a return on equity of 13.90%. Research analysts forecast that Sinopec Shanghai Petrochemical will post 7.11 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on SHI shares. Zacks Investment Research upgraded shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Saturday, March 23rd. Citigroup upgraded shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. lowered shares of Sinopec Shanghai Petrochemical from an “overweight” rating to an “underweight” rating in a report on Monday, June 10th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Sinopec Shanghai Petrochemical currently has a consensus rating of “Hold” and a consensus target price of $58.00.

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About Sinopec Shanghai Petrochemical

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. The company operates through five segments: Synthetic Fibres, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.

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Dividend History for Sinopec Shanghai Petrochemical (NYSE:SHI)

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