According to the results of the company for the Saudi market (Tadawul) today, the profits of the period amounted to 62.48 billion riyals, compared to profits of 83.29 billion riyals in the first quarter of 2018.
The company said in the statement that the decrease in profits during the comparative periods is due to lower crude oil prices, as well as lower refining and chemical profit margins and stock revaluation losses. >
This is partly offset by a decline in production rents, mainly due to a drop in crude oil prices, along with a decrease in crude oil rents from 20% to 15%, In addition to the high revenue related to the par price income for gas products.
The company announced distributing cash dividends to shareholders for the first quarter of this year, at a value of 70.32 billion riyals ($ 18.75 billion), as the share of the dividend reached 0.3518 riyals.
The company explained that the date of dividend entitlement is as on May 21, while the date of distribution is on June 18.
