Saudi Aramco shares fell during trading on Wednesday, recording the largest daily losses in about two months as trading began on the stock without entitlement to cash dividends.
By 1:30 Riyadh time, Saudi Aramco’s share price declined by about 1.42%, reaching 27.85 riyals, losing about 0.35 riyals of its value.
14.5 million shares were traded, at a value of 402.86 million riyals, ranking second on the list of the most active stocks in terms of value.
Meanwhile, the performance of the general index, TASI, rose by about 0.55%, reaching 12,169.95 points, gaining about 66.13 points to its value, after trading 289.51 million shares, at a value of 6 billion riyals.
Saudi Aramco announced the distribution of basic dividends to shareholders for the second quarter of 2024, in line with the company’s dividend distribution policy, which aims to distribute sustainable and increasing dividends, in addition to the fifth distribution of performance-related dividends to shareholders based on the full annual results for the years 2022 and 2023.
The total amount distributed is SAR 116.45 billion ($31.05 billion), including: basic dividends of SAR 76.06 billion ($20.28 billion), in addition to performance-related dividends of SAR 40.39 billion ($10.77 billion).
Aramco's results showed a decline in net profit to 109.01 billion riyals during the second quarter of 2024, compared to profits of 112.81 billion riyals for the same quarter of 2023, a decrease of 3.37%.
