Aramco Raises Payout to $31 Billion in Boon for Saudi Budget

(Bloomberg) — Saudi Aramco raised its dividend despite a retreat in energy prices and lower production, a boost for Saudi Arabia as it faces a widening budget deficit. 

The total payout of about $31 billion, which includes a special component, for the fourth quarter rose even as lower oil output pushed net income down 25% year-on-year. Aramco guided that the total distribution to investors and Saudi Arabia’s government this year will be higher than in 2023.