Saudi Aramco plans to pay out a total annual dividend of $75 billion as it builds toward an IPO
By Ben Dummett and Sarah McFarlane Sept. 30, 2019 3:37 pm ET Saudi Arabian Oil Co. is targeting potential nongovernment investors with plans to pay out a total annual dividend of $75 billion as it builds toward an initial public offering expected this year.
The corporate posting Monday coincided with Aramco restoring its oil production capacity to levels that preceded the Sept. 14 attacks on its facilities. The attacks came within weeks of the Saudi government reviving plans for an IPO of Aramco shares. Fitch Ratings previously estimated that from 2015 to 2017, Aramco accounted for around 70% of Saudi Arabia’s revenue.
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