Oil giant #Saudi Aramco declares $75bln in full-year dividend | ZAWYA MENA Edition

Oil giant Saudi Aramco declares $75bln in full-year dividend | ZAWYA MENA Edition

Oil giant Saudi Aramco’s shareholders can expect to receive $75 billion dividends for the full-year 2020.

The state-run company declared the payout on Sunday despite a sharp decline in net profits for the past 12 months.

In a bourse filing to the Saudi Stock Exchange (Tadawul), the company also said that the dividends for the fourth quarter 2020 will be $18.76 billion.

More than 199 billion shares will be eligible for the compensation, pegged at 0.3518 Saudi riyal per share. The funds will be distributed on March 31, 2020.

Due to the coronavirus pandemic, the company reported a 44 percent fall in net profits for the year ended December 31, 2020 to 183.76 billion Saudi riyals.