Aramco pays same dividend despite 45% plunge in profit
The oil giant paid a third-quarter dividend of $18.75bn even though it failed to generate enough cash to cover it
03 November 2020 - 18:02
Dubai — Saudi Aramco left its third-quarter dividend unchanged at $18.75bn even as it failed to generate enough cash to cover the payout and reported a 45% drop in profit.
The world’s biggest oil company generated free cash flow of $12.4bn between July and September, down from $20.6bn a year earlier as coronavirus lockdowns hit demand for energy and refining margins...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.