February 6, 2023

Dubai Week

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Emirates News Agency – 412.40 billion riyals net income of Saudi Aramco last year

Dammam, 20 March / WAM / Saudi oil company “Saudi Aramco” reported earnings of 413.40 billion riyals (US $ 110 billion) for the year ended December 31, with 183.76 billion Saudi riyals ($ 49.00 billion). Dollars) in 2020.

According to the Saudi Press Agency, the company said in a statement issued on the Saudi Stock Exchange today that net earnings achieved in the past year reflect the impact of the rise in crude oil prices, fully integrating SABIC’s business results. Year, and a significant increase in the profit margins of the refining and chemical business.

The board of directors of the company decided to recommend to the General Assembly to issue one free share for every 10 shares owned by investors, raising a capital of 15 billion riyals from the reserve income and distributing 0.3518 riyals per share.

Excluding minority interests, the shareholders’ total shareholding was 1,113.26 million riyals, an increase of 12.354% from 990.85 billion riyals to 1.98 riyals per share in 2021 compared to 0.93 riyals.

The company announced 70.3 billion Saudi riyals ($ 18.8 billion) in cash dividends to shareholders in the fourth quarter of 2021, as well as the Board of Directors’ recommendation to issue 15 billion Saudi riyals ($ 4 billion) and the necessary regulatory approvals and issuance of one share for every ten shares. With the approval of the General Assembly.

Thus, the total cash dividend for fiscal year 2021 will be 281 billion Saudi riyals (US $ 75 billion) in addition to equity subsidies.

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Wm / Mustafa Badr Al-Din