A lean year – Saudi Aramco’s profits decline—but not the dividend | Business

62
2823


BIG OIL EQUALS big payouts. The covid-induced collapse in the price of crude, which wiped billions from supermajors’ profits, tested this regularity—but not to breaking point. ExxonMobil booked an annual net loss of $22bn but still paid $15bn to shareholders. On March 21st Saudi Aramco said it, too, would maintain its $75bn dividend, on which its kingdom’s budget depends. Never mind the 44% fall in earnings.

Listen to this story

Enjoy more audio and podcasts on iOS or Android.

This article appeared in the Business section of the print edition under the headline “Saudi Aramco’s profits decline—but not the dividend”



Source link

Comments are closed.