Saudi Aramco Begins Distributing Q3 2024

Saudi Aramco, the world’s largest oil producer, has commenced distributing cash dividends to shareholders for the third quarter of 2024. According to company announcements, shareholders who were eligible as of November 14 will receive their respective distributions.

The total distributed amount is reported to reach 116.45 billion riyals, comprising 76.06 billion riyals in core earnings and 40.39 billion riyals in performance-linked earnings. With 241.84 billion shares eligible, the dividends per share stand at 0.4815 riyals, broken down into 0.3145 riyals as basic dividends and 0.1670 riyals as performance-linked dividends.

Despite this announcement, shares of Saudi Aramco (TADAWUL: 2222) experienced a decline during trading on the Saudi stock exchange. The stock fell by 1.61%, or 0.45 riyals per share, to trade near 27.55 riyals.

Saudi Aramco had previously announced its intention to distribute the basic dividends for the third quarter of 2024, in line with its policy of providing sustainable and progressively increasing dividends. This also marks the sixth round of performance-linked dividends, reflecting the company’s robust financial results for 2022 and 2023.

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