Saudi Arabia's state-owned oil group increased its dividend by almost a third despite a 25% fall in profits as oil prices and production levels eased.
Saudi Aramco's net income dropped to $121.3bn (£94.38bn) from the record-breaking $161.1bn (£125.35bn) made in 2022, though remains the second-highest for the company.
Performance-based dividends were introduced by the country during the second-quarter last year to increase returns to shareholders, primarily the state and the country's sovereign wealth fund.
It's quarterly dividend was raised by 4% to $20.3bn (£15.8bn), while performance-linked dividends were boosted by 9% to $10.8bn (£8.41bn). Total dividends totalled $98.7bn (£76.83bn).
Production levels fell in 2023 with Aramco reporting it produced 12.8 million barrels of oil oil equivalent a day, compared with 13.6 million the year prior.
The price of Brent Crude has risen this year from less than $76 to upwards of $81.
FTSE 100
The UK's flagship share index, the FTSE 100, was up xx-points, at xx shortly after opening this morning.
Brent crude oil futures was down 0.18% today, trading at $81.93 a barrel.
Companies reporting today
- Hg Capital Trust - Full Year Results