Sunday, March 20, 2022 – 8:48 PM
Dammam, 20 March / WAM / The Saudi Arabian Oil Company “Saudi Aramco” announced that it achieved a net income of 412.40 billion riyals (110 billion US dollars) for the year ended December 31, compared to 183.76 billion Saudi riyals (49.00 billion US dollars) in 2020. .
The company stated in an announcement published on the Saudi stock exchange today, according to the Saudi Press Agency, that the net income achieved during the past year reflects the impact of the rise in crude oil prices, the consolidation of SABIC’s business results for a full year, and the significant increase in profit margins from refining and chemicals business.
The company’s board of directors decided to recommend to the general assembly granting a free share for every 10 shares owned by investors, by capitalizing 15 billion riyals from the balance of retained earnings and distributing 0.3518 riyals for each share.
The total shareholders’ equity, following excluding minority interests, amounted to 1,113.26 million, compared to 990.85 billion riyals, an increase of 12.354%, bringing the earnings per share in 2021 to 1.98 riyals, compared to 0.93 riyals.
The company announced cash dividends to shareholders for the fourth quarter of 2021 amounting to 70.3 billion Saudi riyals ($18.8 billion), in addition to the board of directors’ recommendation to capitalize 15 billion Saudi riyals ($4 billion) of retained earnings and one share for every ten shares. In the event of obtaining the required regulatory approvals and the approval of the extraordinary general assembly to issue and distribute these shares.
Thus, the total cash dividends for the fiscal year 2021 will be 281 billion Saudi riyals (75 billion US dollars), in addition to stock grants.
– not –
Wm/ Mustafa Badr Al-Din
