The profits of Aramco 2019 amount to 330 billion riyals … and distributions 14.76 billion riyals

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Source: Dubai – Arabic.net

Saudi Aramco announced today, Sunday, its financial results for 2019, during which the company achieved a net profit after Zakat and tax of 330.69 billion riyals, compared to a net profit of 416.52 billion riyals in 2018, a decline of 20.6%.

The company said, in a statement to the Saudi financial market, “Tadawul”, that sales decreased by 7.4% to 1.1057 trillion riyals, compared to 1.194 trillion riyals in 2018.

The company attributed the decrease in profits to the decline in crude oil prices and production quantities, in addition to the decrease in profit margins for the refining and chemicals sectors, and the decrease in the proven value of Sadara Chemical Company by 6 billion riyals ($ 1.60 billion).

The company announced in a separate statement that the distributions amounted to 14.76 billion riyals for the period from 5 December 2019 to 31 December 2019, which is the period from the date of allocating the shares of the initial public offering to the end of 2019.

She pointed out that these profits are part of the total regular dividends for the last quarter of 2019, amounting to 50.21 billion riyals.

The company explained that the number of shares due to profits amounted to 199.882 billion shares, and the share of the share from the distribution is about 0.0738 riyals. It stated that the distribution eligibility shall be vested in the shareholders until March 18, while distribution will take place on March 31.







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