Aramco: 70 billion riyals in cash dividends to shareholders for the third quarter


Aramco’s Board of Directors decided to distribute cash dividends to shareholders amounting to 70.32 billion riyals for the third quarter of 2020, at a rate of 0.3518 riyals per share. The second trading day following the maturity date. It indicated the profit distribution of 199.88 billion shares, as of November 30. The quarterly profits of Aramco fell 44.6% to 44.2 billion riyals in the third quarter of 2020, compared to 79.8 billion riyals in the corresponding period last year, while profits increased by 79.6%, compared to the profits achieved in the previous quarter, which was 24.6 billion riyals during the nine months The first of 2020, Aramco achieved profits of 131.3 billion riyals after zakat and tax, compared to 255.7 billion riyals in the corresponding period last year, a decrease of 48.6%. Aramco said that net income amounted to 44.21 billion riyals for the third quarter of 2020, compared to 79.84 billion riyals for the same quarter of 2019, mainly reflecting the impact of lower crude oil prices and sales volumes, and weak profit margins in the refining and chemicals business. The proceeds of crude oil production arising from the decline in prices and sales volume, as well as the decrease in the rate of rent from 20% to 15%, the decline in income taxes and zakat, and the increase in other income related to sales of gas products.

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