Aramco Announces Q1 Results and Dividends on May 15

Saudi Aramco announced today, Thursday, that it will release its dividend distributions and financial results for the first quarter of 2022, along with the preliminary quarterly report on May 15 and 16, respectively. The Saudi oil giant recorded a significant net profit increase in 2021 of 124.4%. The company reported a net profit of 412.4 billion riyals last year, compared to 183.76 billion riyals in 2020, representing more than a twofold increase. This growth primarily reflected the impact of rising crude oil prices, the full-year consolidation of SABIC’s results, and a substantial increase in profit margins from refining and chemicals operations. The company also announced a cash dividend distribution to shareholders for the fourth quarter of 2021, amounting to 70.3 billion riyals (18.8 billion dollars).