Aramco CEO says to use cash, debt to pay dividends

Saudi Aramco president Amin Nasser said they would use a combination of cash and debt to pay its dividend of $18.75 billion for the first quarter of this year. (AFP file photo)

• ‘We would like to use our free cash definitely most of time, but other debt instruments from banks or bonds are also available for us’

DUBAI: Saudi Aramco will use a combination of cash and debt to pay its dividend of $18.75 billion for the first quarter of this year, the company’s chief executive said on Thursday.
“It will be a combination of both,” Amin Nasser told reporters during a phone call, when asked whether Aramco would tap debt markets to cover the dividend or use its own cash.
“We would like to use our free cash definitely most of time, but other debt instruments from banks or bonds are also available for us as we have a strong balance sheet.”