Energy
Saudi Aramco Keeps World’s Biggest Dividend as Debt Jumps
- It’s flipped into net debt for the first time in two years
- Dividend is crucial for the kingdom with state spending rising
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Saudi Arabia’s oil giant Aramco kept up its $31 billion dividend to help feed state coffers, despite rising debt.
The company, majority owned by the Saudi state, is maintaining the world’s biggest payout even with increasing signs of stress on the balance sheet. The outlook for oil has darkened with concerns over demand, but the dividend is key for the government’s finances.