Aramco sticks to huge dividend despite 25% drop in profits
The Saudi oil giant will keep spending in checks, but the payout is crucial for the kingdom, which holds about 98% of the company
12 May 2020 - 18:24
Dubai — Saudi Arabia’s state-controlled oil giant has retained its huge dividend despite a 25% plunge in profit, and signaled it will keep spending in check as it braces for deeper damage from the oil crisis.
Saudi Aramco, the world’s most valuable listed company, will pay a dividend of $18.75bn for the first three months of 2020. That will leave it on track to meet its full-year goal of $75bn, though it didn’t specify if it was still committed to that number...
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