Aramco’s shares were up about 1.7 per cent to SAR32.3 a share, slightly above their 2019 IPO price of SAR32
The cooling firm reported a net profit of Dhs685m during the period under review and paid a cash dividend of Dhs425m for the first half of 2023
The property developer plans to continue making healthy investments in its workforce while attracting top global talent to foster more inclusive growth
According to the group, the total annual dividend per share stands at Dhs0.8
The company’s non-fuel transactions increased by 18 per cent during the period
Its group net profit reached Dhs118m for the first half of the year, rising 74 per cent year-on-year
The bank’s shareholders also elected a new board of directors
Aramco declared a dividend of $18.8bn for the fourth quarter, to be paid in Q1 2022
The Saudi benchmark index has jumped about 9 per cent this year
The firm is raising cash to help finance its plans to pay out $75bn in dividends
Its revenues also pared to Dhs5.35bn in 2020
The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia
The dividend payout equals to 49 per cent of the lender’s net profit for 2020
Banks are the largest distributors of profits
The Kuwait Banking Association said in June that there would be no distribution of dividends to shareholders for 2020
Aramco sold $8bn in tranches maturing in three, five, 10, 30 and 50 years
Aramco will pay a dividend of $18.75bn for the quarter