Saudi Aramco has approved a $3 billion share buyback program, its first since going public in 2019, a move designed to shore up its stock price as earnings came under pressure from softer oil markets.
The state-controlled oil producer plans to repurchase as many as 350 million ordinary shares over the next 18 months, according to a company statement. The shares acquired under the program may be held for up to 10 years.
Alongside the buyback, Aramco lifted its fourth-quarter dividend by 3.5% to $21.9 billion, a payout that flows overwhelmingly to the Saudi government and its sovereign wealth fund, the Public Investment Fund, which together hold roughly 97% of the company.
Dividends from Aramco remain a crucial source of income for Saudi Arabia as it funds a sweeping economic overhaul aimed at reducing reliance on oil revenues and building new industries under the kingdom’s diversification strategy.
The buyback also marks another step in the evolution of Aramco’s shareholder-return policy since its landmark initial public offering. The company raised nearly $30 billion when it listed on the local exchange in 2019.
📌 2025 Numbers:
- Adjusted net income: $104.7 billion vs $110.3 billion year ago
- Cites impairment and held for sale remeasurement losses, adjustments related to joint ventures and associates, losses for the year from assets classified as held for sale
- Revenue and other income related to sales: $445.7 billion vs $480.4 billion
- Cites lower prices of crude oil as well as lower prices of refined and chemical products
- Capital investment of $52.2 billion in 2025, in line with guidance and $1 billion lower YoY; 2026 capital investment guidance of $50 billion to $55 billion
