Saudi Aramco boosted its dividend to almost $100bn as it reported the second-highest annual profit in its history, even as lower oil prices and state-led production cuts weighed on performance.
Net income at the state-owned group was $121bn last year, the company said on Sunday, down about a quarter from the $161bn set in 2022 when soaring fossil fuel prices supercharged profits to record levels.
Still, the world’s largest oil producer was able to increase its total dividend in 2023 by 30 per cent year-on-year to $97.8bn, chief executive Amin Nasser said, largely through additional performance-linked payments introduced last May.
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