Aramco’s $75bn dividend survives oil, earnings rout ...Qatar

Gulf Times - News

Saudi Aramco’s $75bn dividend survived one of the biggest disruptions to oil markets in decades as the coronavirus pandemic and a price war sent crude prices tumbling. Aramco will make the payout – the largest of any listed company and almost all which goes to Saudi Arabia’s government – for 2020 despite a slump in earnings and revenue. The dividend is a key source of cash for the kingdom, whose economy was hit after the virus hammered energy markets and shut down local businesses. The world’s biggest oil company has taken on more debt in the past 12 months to keep up the dividend in the face of dwindling cash flow, though its gearing remains below that of firms such as Royal Dutch Shell Pl

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Last updated : 21 March 2021 clock 09:31 PM

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Aramco’s $75bn dividend survives oil, earnings rout ...Qatar

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