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● Press Release Net income : $ 21.7 billion Aramco announces first quarter 2021 results Net income rises 30 % year - on - year as upside captured from improved economic environment aramco Cash flow from operating activities : $ 26.5 billion Free cash flow * : $ 18.3 billion Q4 2020 dividend of $ 18.8 billion paid in the first quarter ; Q1 2021 dividend of $ 18.8 billion to be paid in the second quarter Dhahran , Saudi Arabia , May 4 , 2021 The Saudi Arabian Oil Company ( " Aramco " or " the Company " ) today announced its first quarter financial results , posting a 30 % year - on - year increase in net income to $ 21.7 billion and declaring a dividend of $ 18.8 billion to be paid in Q2 . The results were underpinned by higher oil prices and an improved economic environment in the first three months of 2021 . Commenting on the results , Aramco President & CEO Amin H. Nasser , said : " The momentum provided by the global economic recovery has strengthened energy markets , and Aramco's operational flexibility , financial agility and the resilience of our employees have contributed to a strong first quarter performance . For our customers we remain a supplier of choice , and for our shareholders we continue to deliver an exceptional quarterly dividend . " We made further progress towards our strategic objectives during the quarter and our portfolio optimization program continues to identify value creation opportunities , such as the recent announcement of our landmark $ 12.4 billion pipeline infrastructure deal . We also expect Saudi Arabia's newly - launched Shareek program to present growth opportunities , through incentives which encourage partnerships and investment . " Given the positive signs for energy demand in 2021 , there are more reasons to be optimistic that better days are coming . And while some headwinds still remain , we are well - positioned to meet the world's growing energy needs as economies start to recover . " 1