Aramco to Borrow More and Focus on Dividend Growth, CFO Says (2)

Saudi Arabian Oil Co. plans to take on more debt and will focus on “value and growth” for its dividend over the long term, the company’s finance chief said.

Distributions by the state-owned company are a key element of the kingdom’s finances, which have wobbled this year as Crown Prince Mohammed Bin Salman pushes his ambitious economic transformation plan. The company has strained its balance sheet in 2024, flipping to a net-debt position for the first time in two years, as it pays out a massive dividend.

While Aramco has pledged that its market-leading base dividend serves as a floor, ...