Riyadh – Mubasher: The net profits of Saudi Aramco Base Oil Company (Luberef) fell by 35.61% to SAR 972.02 million in 2024 from SAR 1.50 billion in 2023.
Revenues amounted to SAR 10.03 billion in the January-December 2024 period, up 5.77% year-on-year (YoY) from SAR 9.48 billion, according to the financial results.
Meanwhile, the earnings per share (EPS) retreated to SAR 5.78 in 2024 from SAR 8.98 a year earlier.
Cash Dividends
The board members of Luberef proposed cash dividends to shareholders valued at SAR 518.22 million for the second half (H2) of 2024. This brings the full-year dividends to SAR 6.68 per share, which is approximately 70% of free cash flow according to the performance-linked distribution policy.
Luberef will disburse a dividend of SAR 3.08 per share for 168.25 million eligible shares.
In the first nine months (9M) of 2024, the Saudi company recorded 38.44% YoY lower net profits at SAR 763.81 million, compared to SAR 1.24 billion.
