DUBAI: 海角直播鈥檚 state oil giant Saudi Aramco plans to pay a base dividend of $75 billion in 2020, it said in a corporate overview posted to its website on Monday as it prepares for an initial public offering (IPO).
Aramco has been courting investors for the IPO, for which it seeks to achieve a $2 trillion valuation.
The document said the company would have 鈥渁 progressive growing dividend on sustainable basis at board discretion.鈥
The listing of Aramco, the world鈥檚 largest oil company, is the centerpiece of Crown Prince Mohammed bin Salman鈥檚 plan to shake up the Saudi economy and diversify away from oil. The IPO appears to be proceeding despite uncertainty over the timeline following a Sept. 14 attack on Aramco鈥檚 facilities.
The document on Monday also mentioned the company鈥檚 鈥減rogressive royalty scheme,鈥 with a marginal rate set at 15% up to $70 per barrel, 45% between $70 and $100, and 80% if the price rises higher.
Saudi Aramco plans to pay base dividend of $75bn in 2020
Updated 30 September 2019
Saudi Aramco plans to pay base dividend of $75bn in 2020
- Aramco has been courting investors for the IPO, for which it seeks to achieve a $2 trillion valuation
- The company would have 鈥渁 progressive growing dividend on sustainable basis at board discretion.鈥
