Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) plans to announce its financial results for the first half (H1) of 2023 next month on 7 August.
The company will also announce the dividend distribution for the second quarter (Q2) of 2023, according to a statement.
In Q1-23, the Saudi oil giant generated net profits worth SAR 119.54 billion, down 19.25% year-on-year (YoY) from SAR 148.03 billion.
The company attributed the decrease in Q1-23 net profits to the decline in crude oil prices, which coincided with a partial decrease in taxes and Zakat and an increase in financing income and other income.
Last May, the board decided to distribute cash dividends totalling SAR 73.16 billion to the stakeholders for Q1-23, equivalent to SAR 0.30 per share.
It is worth mentioning that Aramco signed off a SAR 153 million contract with Electrical Industries Company (EIC) earlier this month, in addition to a SAR 322 million deal with Arabian Pipes Company.
