Money & BusinessSaudi Arabia
Saudi Aramco to grant bonus shares to shareholders
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The Saudi Arabian Oil Company (Saudi Aramco) announced on Sunday the Board of Directors’ recommendation to the Extraordinary General Assembly to grant bonus shares to its shareholders via capitalizing $4 billion from the retained earnings.
Each shareholder will be granted one bonus share for every ten shares. This comes following its full-year 2021 financial results, reporting that net income more than doubled year-on-year to $110.0 billion. Aramco declared a fourth quarter dividend of $18.8 billion, to be paid in the first quarter of 2022.