Aramco stock gains about 14% year to date as earnings back higher dividend

11/03/2026 04:04 AST

Shares of Saudi Aramco rose in early trading on the Saudi Exchange after the energy giant reported strong cash generation and higher shareholder returns for 2025, with the stock opening at SR25.92 ($6,90) and climbing to an intraday high of SR25.98.

The company's shares have gained about 13.8 percent year to date, supported by investor confidence in its dividend outlook and resilient energy earnings.

Aramco reported adjusted net income of $104.7 billion for 2025, while net profit fell 12.1 percent year on year to $93.39 billion from $106.25 billion in 2024, as lower crude prices weighed on revenue despite higher sales volumes across oil, gas and refined products.

Aramco President & CEO Amin H. Nasser said: "Aramco delivered robust growth and strong cash flows in 2025, reinforcing confidence in our strategy. Our disciplined capital allocation, combined with our lower-cost, adaptable, and highly-reliable operations, drove strong financial performance in a year marked by price volatility. This enabled a 3.5% increase to our base dividend, reinforcing our focus on delivering sustainable and progressive shareholder returns."

He added: "We continue to leverage advanced technologies, including AI, to enhance efficiency and unlock value across our business. We also continued to maintain our impressive safety track record in 2025, with our lowest total recordable case rate since the IPO."

Operating cash flow reached $136.2 billion, with free cash flow at $85.4 billion, underscoring the company's continued ability to fund shareholder returns and strategic investments.

The board declared a fourth-quarter base dividend of $21.89 billion, up 3.5 percent year on year, marking the fourth consecutive annual increase, and announced a share buyback program of up to $3 billion over 18 months. Total shareholder distributions for 2025 reached $85.5 billion.

"Following another year of record oil demand in 2025, we believe ongoing investments in our operations position us well for the future," the CEO said, adding that the company's gas expansion was progressing on schedule and that strong project momentum highlighted potential for future operating cash flow growth.

Arab News