Saudi Wealth Fund Eyes $20 Billion Windfall from Aramco Dividend

Saudi Arabia’s sovereign wealth fund is set to earn about $5 billion in dividend payments every quarter from its stake in Aramco after the government handed it more shares in the state-controlled oil company, which then said it would boost shareholder payouts.

The hike in Aramco’s dividend, which is set to total at least $124 billion this year, comes days after Crown Prince Mohammed bin Salman ordered the transfer of an 8% stake in Aramco to the Public Investment Fund.

The PIF now holds a 16% stake in Saudi Aramco, worth about $333 billion, which translates to an annual ...