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Aramco pays nearly $100bn in dividends as profits tumble

Saudi Arabia’s state-owned oil company Aramco has paid out dividends of nearly $100bn (£77bn), despite the company’s annual profits tumbling from the record earnings raked in the year before.The group, in which the Saudi government owns a 82% stake, said in its annual accounts that dividends to shareholders increased by 30% to $97.8bn in 2023.Overall profits fell by just under 25% to $121.3bn, owing to a drop in oil prices and lower sales when compared with the previous 12 months.Despite this fa...

Read more at theguardian.com

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