Saudi Aramco plans to pay a base dividend of $75bn in 2020, according to a statement posted on its website ahead of its long-awaited initial public offering.
In the document, the company said it would have "a progressive growing dividend on [a] sustainable basis at board discretion", going forth.
Saudi Aramco plans for a "progressive royalty scheme", with a marginal rate of 15% for prices of up to $70 per barrel of Brent, 45% between $70 and $100, and 80% if prices rise above $100 per barrel.
The company is expected to make an initial listing on the Saudi exchange (Tadawul), before venturing into an international listing. It is expected to list up to 5%, but reports have surfaced that internal discussions mentioned potentially listing up to 10% of the company.
Major Saudi Aramco facilities were attacked on 14 September, halving its production and temporarily jolting the oil price. While analysts initially wondered if this would impact the company's IPO, Aramco announced that its production levels were back to pre-attack levels of 9.7mn barrels per day, with full capacity to be restored by November.