China Aviation Oil boosts dividend on the back of record FY16 earnings

Singapore

MAINBOARD-LISTED jet fuel supplier China Aviation Oil (CAO) raised its dividend payout as it reported a milestone year with profit hitting a new high.

The company has proposed a final dividend of 4.5 Singapore cents per share for the year ended Dec 31, 2016, up from three cents a year ago.

For the three months ended Dec 31, net profit surged 57 per cent year on year to US$17.91 million, in line with higher gross profi…