DUBAI (Reuters) -Oil big Saudi Aramco (TADAWUL:) on Tuesday reported a 3.4% fall in second-quarter revenue on decrease crude volumes and softer refining margins.
Aramco posted second-quarter internet revenue of 109.01 billion riyals ($29.03 billion) within the three months to June 30, beating a company-provided median estimate from 15 analysts of $27.7 billion.
Dividends of $31.1 billion have been declared for the second quarter, together with $10.8 billion in performance-linked payouts. Aramco launched the performance-linked dividends final yr, on high of a base dividend that’s paid no matter outcomes, an unusual observe amongst listed corporations.
Aramco mentioned on Tuesday it expects $124.2 billion in complete dividends in 2024, roughly in step with earlier steerage of $124.3 billion.
The Saudi authorities holds almost 81.5% of Aramco and depends closely on the corporate’s payouts, which embrace royalties and taxes. Saudi’s sovereign wealth fund PIF holds one other 16% of Aramco and in addition advantages from its dividends.
($1 = 3.7545 riyals)
