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Saudi Aramco forecasts a decrease in profits for the full year 2024 and a dividend cut in 2025.
On the 4th, Saudi Aramco, the state-owned petroleum company of Saudi Arabia, announced that its financial results for the fiscal year ending December 2024 showed a decrease in net profit. The company revealed that it expects a reduction in shareholder returns for 2025. The net profit was 106.2 billion dollars, down from 121.3 billion dollars the previous year. The annual dividends amounted to 124.2 billion 50 million dollars, an increase from the previous year's 97.7 billion 80 million dollars. However, a decrease to 85.4 billion dollars is anticipated for 2025. The basic dividend for the October-December period (the fourth quarter) is 21.1 billion dollars.
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