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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Arabian Drilling to pay $60m dividend

Arabian Drilling Company is one of the largest Saudi onshore and offshore drilling contractor.
By TRENDS Desk
March 18, 2024 11:05 pm
  • The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.
  • The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.

Riyadh, Saudi Arabia — Arabian Drilling Company has approved a cash dividend of SAR 225. 17 million ($60 million or 25.3 percent) for the second half of 2023.

The dividend will be paid on April 2 and this is the second installment of the total dividend of SAR450.34 million for 2023, the company said in a Tadawul filing.

The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.

In a statement to Tadawul, the company attributed the rise in profits to a rise in revenue primarily due to higher rig activity, as well as increased day rates of certain rigs.

Between Q4 2022 and Q3 2023, the company started operating five additional offshore rigs, which boosted its full-year revenue.

The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.

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