Saudi Aramco is keeping its huge dividend of $31.1 billion for the first quarter despite a decline in net income due to lower crude sales as the Kingdom is voluntarily restricting supply to the market. Aramco, the state oil giant of the world’s top crude oil exporter and the largest oil firm globally, reported on Tuesday a net income of $27.3 billion for the first quarter of 2024, down from $31.
Aramco is set to pay in the second quarter a Q1 2024 base dividend of $20.3 billion and the fourth performance-linked dividend distribution of $10.8 billion. “In line with its aim to maximize value for shareholders, the Board declared a base dividend of SAR 76.1 billion $20.3 billion and the fourth distribution of the performance-linked dividends of SAR 40.4 billion $10.8 billion, bringing the total declared dividends for the first quarter to SAR 116.5 billion $31.
Crude Oil Oil Prices Supply Demand Profits Earnings Dividend
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