The Annual Shale Gas Technology & Equipment 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.
Unconventional natural gas has become a global hotspot. It is changing the pattern of the world energy. Shale gas will become one of the three energy resources in the next 20 years. Read More >
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