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The Guardian - UK
The Guardian - UK
Business
Jack Simpson

Aramco pays nearly $100bn in dividends as profits tumble

A Saudi Aramco sign is pictured at an oil facility in Abqaiq, Saudi Arabia
Aramco’s overall profits in 2023 are its second highest ever. Photograph: Maxim Shemetov/Reuters

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.

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