All articles tagged with #dividend payout
Micron Technology hit an all-time high of $294.37 amid investor buying ahead of its dividend payout, following strong quarterly earnings that doubled net income to $5.24 billion and revenue of $13.6 billion, with future revenue guidance set higher at $18.7 billion.
Petrobras shares dropped over 11% after delivering a smaller-than-expected dividend to shareholders, causing market shock. The decision was influenced by internal pressures from the board and challenges from the Brazilian government. President Luiz Inacio Lula da Silva and his administration want the money to be invested in Petrobras' large investment plan, including renewable energies, leading to concerns about government interference in state-owned enterprises and spooking investors.
Saudi Aramco, the state oil giant, reported a 23% decline in net profit for the third quarter due to lower crude oil prices and volumes sold. Despite the drop, the company's profit of $32.6 billion beat analyst estimates. Free cash flow was also significantly reduced. Aramco maintained its dividend payout of $29.4 billion to investors and the Saudi government. The company's capital expenditure increased, and it announced plans for international LNG investment and expansion into the South American market. The decline in profitability aligns with industry trends, as other energy majors have also experienced sharp declines. Saudi Arabia, as a leading oil producer, has implemented production cuts. Aramco's CEO expressed confidence in the company's ability to generate value for shareholders.
Saudi Aramco, the national oil company of Saudi Arabia, reported a 19% drop in quarterly profit due to lower energy prices. However, the company announced an additional dividend payout, highlighting the kingdom's dependence on oil revenues to run its economy. Aramco's net profit for the first three months of the year was 119.54 billion Saudi riyals ($31.88 billion), down from $39.47 billion in the same period last year.