Energy

Saudi Aramco to uphold dividends pledge amid reports of job cuts

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Amin H. Nasser, president and CEO of Saudi Aramco, speaks during a news conference at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019.

Hamad Mohammed | Reuters

Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from the coronavirus pandemic and lower oil prices. 

“It will be a combination of both,” Aramco CEO Amin Nasser told press during a call, referring to both using the firm’s cash and tapping debt markets. 

“We would like to use our free cash definitely most of time, but other debt instruments…



Source cnbc.com

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