Saudi Aramco to Return $31 Billion to Shareholders, Government After Profit Beat
By Christian Moess Laursen
Saudi Aramco said its second-quarter net profit beat market estimates, and that it plans to pay $31.1 billion in dividends to the Saudi government and its shareholders.
Saudi Arabia's national oil company on Tuesday posted a quarterly net profit of $29.07 billion, down from the $30.83 billion it reported for the same period last year.
The result was higher than the $27.7 billion the market had forecast, according to a median estimate provided by the company. Earnings were better than expected thanks to improving crude oil prices.
Aramco, one of the most valuable companies globally, declared a base dividend of $20.28 billion for the second quarter and a performance-linked dividend of $10.77 billion.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
August 06, 2024 02:13 ET (06:13 GMT)
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