RIYADH: Saudi Arabia’s national oil company, Aramco, has announced that it will distribute 73.15 billion riyals to its shareholders as a fourth-quarter dividend last year. Many Malayalis also have shares in Aramco.
The company said this was a four percent increase over the third quarter of 2022, in line with Aramco’s dividend policy, which aims to deliver a sustainable and growing dividend. Total company net profit for 2021 was 412.4 billion Riyals. In 2022, it will increase by 46.5 percent to about 604.01 billion Riyals.
Higher crude oil prices compared to 2021, higher volumes sold, and an increase in profit margin from the refining business have led to an increase in net profit in 2022. The company’s board of directors has recommended increasing the company’s capital from 75 billion riyals to 90 billion riyals by capitalizing on 15 billion riyals of retained earnings and issuing one more share for every 10 shares held by shareholders.
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Last Updated Mar 15, 2023, 12:45 PM IST