Saudi Aramco maintains dividend despite lower net income in Q1

-0.34%

+0.04%

Tadawul All Shares Index

TASI.SA

10679.45

-0.34%

SAUDI ARAMCO

2222.SA

23.91

+0.04%

DUBAI, May 7 (Reuters) - Saudi Arabia's state-owned oil giant Aramco 2222.SE reported a 14.4% fall in first-quarter net profit on the back of lower oil prices and volumes sold.

Net profit declined to $27.3 billion for the three months to March 31, in line with the $27.6 billion expected by 12 analysts in a company-provided forecast.

Aramco declared a base dividend of $20.3 billion for the first quarter. It expects to pay out its fourth performance-linked dividend distribution of $10.8 billion in the second quarter.

(Reporting by Hadeel Al Sayegh, Editing by Louise Heavens)

((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.