Logo ofArabian Drilling Co.
Arabian Drilling Co.’s board of directors, in its meeting held on July 28, recommended withholding dividends for 2025, according to a statement to Tadawul.
The decision is driven by the recent changes in rig demand in Saudi Arabia, in addition to the company’s ongoing capex investments in its fleet, the statement added.
The board will revisit this decision again upon more clarity on the levels of future demand and supply dynamics for both onshore and offshore rigs.
This recommendation is subject to the approval of the upcoming general meeting.
Arabian Drilling’s H1 2025 net profit dropped to SAR 83 million compared to SAR 166 million in a year-earlier period.
The company paid a cash dividend at 27%, or SAR 2.70 a share, for 2024.
Logo ofArabian Drilling Co.
Arabian Drilling Co.’s board of directors, in its meeting held on July 28, recommended withholding dividends for 2025, according to a statement to Tadawul.
The decision is driven by the recent changes in rig demand in Saudi Arabia, in addition to the company’s ongoing capex investments in its fleet, the statement added.
The board will revisit this decision again upon more clarity on the levels of future demand and supply dynamics for both onshore and offshore rigs.
This recommendation is subject to the approval of the upcoming general meeting.
Arabian Drilling’s H1 2025 net profit dropped to SAR 83 million compared to SAR 166 million in a year-earlier period.
The company paid a cash dividend at 27%, or SAR 2.70 a share, for 2024.
