Aramco Reports $56.3 Billion Net Income in First Half of Year
Saudi Arabian Oil Company, known as Saudi Aramco, reported a robust performance for the first half of this year, achieving a net income of $56.3 billion. The company also recorded $64.7 billion in cash flow from operating activities and $41.7 billion in free cash flow during this period, according to their report.
In the second quarter alone, Aramco posted a net income of $29.1 billion, with cash flow from operating activities reaching $31.1 billion and free cash flow totaling $19 billion.
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The report highlighted a second-quarter base dividend of $20.3 billion, along with a performance-linked dividend distribution of $10.8 billion set to be paid in the third quarter. Aramco expects to declare total dividends of $124.2 billion for 2024, leading the industry.
“We have delivered market-leading performance once again, with strong earnings and cash flows in the first half of the year. Leveraging these strong earnings, we continued to deliver a base dividend that is sustainable and progressive,” stated Aramco’s President and CEO Amin H. Nasser.
