ARAMCO: 70 Billion for Investors during the 2nd Quarter of the year 2020
The Saudi Arabian Oil Company “Aramco” announced the distribution of cash dividends of $ 70 to shareholders. 32 billion riyals ($18.75 billion), for the second quarter of 2020.
It indicated that the number of shares due for dividends amounted to 199.88 billion riyals, and the share amounted to (0.35) riyals, indicating that the date of dividend distribution is August 31, 2020.
The company clarified, during its announcement of the financial results for the period ending 6-30-2020, that profits decreased to 87.1 billion riyals at the end of the first half, by 51%, compared to profits of 175. 9 billion riyals were achieved during the same period in 2019.
It is said that the reason for the decline in profits during the current period compared to the same period of the previous year is due to lower prices, losses in inventory revaluation, and lower profit margins in the refining and chemicals business on the net income in 2020.
