Saudi Aramco has decided on the ninth of next August to announce the results of the second quarter of 2020, before the start of transactions on the Tadawul exchange.
According to Arabia Net, the company said in a statement that it would organize an online broadcast to discuss the results of the second quarter on August 10 at 15:30 GMT.
Aramco CEO Amin Al-Nasser had stated in a previous statement that the company would use a mix of cash and debt to pay off the dividend of $ 18.75 billion for the first quarter of this year. < / p>
Al-Nasser added to reporters during a telephone conversation when asked what Aramco would do about the distributions and whether it would knock the debt markets to cover the distributions or use its own liquidity would be a combination of both. p>
"We would like to use our free cash for sure most of the time, but other debt instruments from banks or bonds are also available to us as we have a strong budget," Al-Nasser said. p>
Al-Nasser expected an increase in the company's debt ratio after the SABIC deal, and the company targets between 5-15% in terms of borrowing. He added, though, that the company has a strong budget even after the SABIC deal and will allow the company to implement its obligations and pledge to distribute the profits.
The most important items of Aramco's results in the first quarter of 2020:
Net Income: 62.5 billion riyals ($ 16.7 billion).
Free cash flows: 56.3 billion riyals ($ 15.0 billion).
Dividends of 50.2 billion riyals ($ 13.4 billion) were paid in the first quarter, which reflects the performance of the fourth quarter of 2019.
Dividends of $ 70.32 billion riyals ($ 18.75 billion) were paid in the second quarter, which reflects the performance of the first quarter of 2020.
(Fun Knowledge of Knowledge)
