Saudi Aramco will use a combination of cash and debt to pay dividend of SAR 70.32 billion ($18.75 billion) for the first quarter of 2020, Reuters reported on Thursday, citing company President & CEO, Amin Nasser.

 

He further added that the company prefers to mostly use free cash, but other debt instruments from banks or bonds are options due to its strong balance sheet.

 

In May, the oil giant announced distributing SAR 70.32 billion cash dividend to shareholders for the first quarter of 2020.

 

Aramco plans to declare aggregate ordinary cash dividends of at least $75 billion to be paid quarterly, subject to the board of directors’ approval and according to its IPO prospectus.

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