Saturday, 1 April 2023

March 12.. “Aramco” to release earnings, dividends for 2022 ‎

Saudi Aramco revealed its intention to announce its financial results and dividends for the year 2022 AD, before the opening of the Saudi market “Tadawul” on Sunday, March 12, 2023 AD.

The company stated that the financial statements for the fiscal year 2022 will be announced on Monday, corresponding to March 13, 2023.

It is noteworthy that Aramco achieved net income of 488.78 billion riyals ($130.34 billion) for the first nine months of 2022, compared to 291.00 billion riyals ($77.60 billion) for the same period in 2021. This increase mostly reflects the impact of the rise, the strong price of crude oil, the increase in the quantities sold, and the increase in refining profit margins. This was partly offset by an increase in the rent on production as a result of the increase in the average effective rent rate mainly, driven by the rise in crude oil prices and the increase in the amount of sales.

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On the other hand, the company achieved a net profit after zakat and tax of 159.12 billion riyals during the third quarter, compared to 114 billion riyals during the same quarter of the previous year, an increase of 39.5%.

In another context, Saudi Aramco announced last November the distribution of cash dividends to shareholders in the amount of 70.33 billion riyals (18.76 billion dollars) for the third quarter of 2022, provided that the share of the share from the distribution is 0.3198 riyals.

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