"Aramco Maintains Dividend Growth Despite Profit Decline"
TL;DR Summary
Despite a 25% drop in profits to $121bn, Saudi Aramco is increasing dividends to $98bn, the second-highest profit ever for the state-backed company, as it looks to invest in China and diversify its economy amidst falling oil prices and production cuts. The firm aims to make announcements on renewable investments in Saudi Arabia and is also considering opportunities to invest in Chinese refineries and potentially in a tie-up with French carmaker Renault and China's Geely for hybrid car engines.
- Saudi Aramco boosts dividends despite profit fall BBC.com
- Aramco hikes dividend 30% to $98 billion despite drop in profit Reuters
- Aramco pays nearly $100bn in dividends as profits tumble The Guardian
- Aramco Raises Payout to $31 Billion in Boost for Saudi Budget Bloomberg
- Aramco announces $121 billion profit in 2023, Saudi oil giant’s 2nd highest on record PBS NewsHour
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