June 18, 2020 / 12:12 PM / 24 days ago

Aramco CEO says to use cash, debt to pay dividends

DUBAI, June 18 (Reuters) - 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.” (Reporting by Rania El Gamal; Editing by Mark Potter)

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