Aramco announces first quarter 2023 results
- Net income: $31.9 billion (Q1 2022: $39.5 billion)
- Cash flow from operating activities: $39.6 billion (Q1 2022: $38.2 billion)
- Free cash flow1: $30.9 billion (Q1 2022: $30.6 billion)
- Gearing ratio1: -10.3% as at March 31, 2023, compared to -7.9% at end of 2022
- Q4 2022 dividend of $19.5 billion paid in the first quarter; representing a 4.0% increase on the previous quarter
- Q1 2023 dividend of $19.5 billion to be paid in the second quarter
- Intention to introduce a mechanism for performance-linked dividends, in addition to the base dividend
- Extraordinary General Assembly approves bonus shares grant of one bonus share for every 10 shares held
- Major investments advance strategic downstream expansion in key global markets
- iktva signings valued at around $7.2 billion expected to further strengthen supply chain efficiency
- Agreement with Linde Engineering for the development of a new ammonia cracking technology, which supports the advancement of lower-carbon energy solutions
