Tomorrow .. “Aramco” to announce its financial results for the year 2024

Saudi Aramco is expected to announce its results for the fiscal year 2024 tomorrow, March 4, 2024. On November 5, 2024, “Aramco” announced its results for the third quarter, achieving a net profit of 103.37 billion riyals, compared to 122.19 billion riyals in the corresponding quarter of 2023, a decrease of 15.4%.

The company indicated that total revenues amounted to 416.63 billion riyals ($111.10 billion) for the third quarter of 2024, compared to 425.71 billion riyals ($113.52 billion) for the second quarter of 2024. This decrease is mainly due to lower prices for crude oil, refined products and chemicals, which was partially offset by higher quantities sold during the period. Financial markets are awaiting the energy giant’s announcement of its cash dividends to shareholders. Last November, Aramco announced the distribution of basic dividends to shareholders for the third quarter of 2024, in line with the company’s dividend distribution policy, which aims to distribute sustainable and increasing dividends. In addition, it announced the sixth distribution of performance-related dividends to shareholders based on the full-year results for 2022 and 2023. The total amount distributed amounted to SAR 116.45 billion ($31.05 billion), including: basic dividends of SAR 76.06 billion ($20.28 billion), and performance-related dividends of SAR 40.39 billion ($10.77 billion).