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Saudi Arabian Oil Company (“Saudi Aramco” or the “Company”) intends to introduce a mechanism for performance-linked dividends in addition to its base dividend
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SAUDI ARAMCO
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1444/10/19 09/05/2023 08:03:16
| Element List | Explanation |
|---|---|
| Announcement Detail | The Company intends to introduce a mechanism for performance-linked dividends, in addition to the base dividend that it currently distributes and intends to maintain as sustainable and progressive. The Company intends to target such performance-linked dividends to be in the amount of 50%-70% of Saudi Aramco Group’s annual free cash flow, net of the base dividend and other amounts including external investments, to be determined with the annual results. All dividends, including performance-linked dividends, are declared at the Board’s sole discretion, after considering the Company’s financial position and ability to fund commitments including growth capital plans, and in accordance with the Company’s Dividend Distribution Policy. These performance-linked dividends are intended to be distributed quarterly. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 29.95
Net Change 0.0 (0.0%)
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