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  • 08-03-21

    Saudi Aramco estimated to pay over USD75B dividend

    (MENAFN)New research from analysts at Bank of America showed that Saudi Aramco, the world’s largest quoted oil company, could pay over USD75 billion per year it vowed at the time of its initial public offering in 2019.

    BoA analysts declared that “We believe that dividend upside is also possible at higher oil prices/output given Aramco’s stellar free cash flow generation,” underlining an approximation of “close to USD100 billion” in cash flow from the company in 2022.

    The forecast came as a result of its “unique” position within the global oil market, and because of a latest flow in the oil price.

    The report further stated that “This year oil has staged a remarkable recovery as Brent prices crossed $65 per barrel in February.” Brent increased, to just short of USD70 per barrel, which many experts believe it is going to cross in trading tomorrow.

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