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Saudi Aramco to pay record dividends despite dip in profits

World’s biggest oil company will pay shareholders, including Saudi state, quarterly dividend of $31bn

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Saudi Arabia’s state-owned oil company is on track to grow its dividends by 30% this year to a new high of $124bn (£98bn) despite reporting weaker profits in the last quarter.

The world’s biggest oil company will pay its shareholders, including the Saudi government, a quarterly dividend of $31bn, which puts the company on course to achieve the record annual sum.

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