Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins but still maintained its generous dividend at $31.1 billion for the quarter.

Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of "lower crude oil prices and weakening refining margins," but maintained a 31.05 billion dividend. Aramco's dividend includes a base payout of $20.

It has said it hopes its overall dividend for the year will be over $124 billion. While a sliver of Aramco trades on the Tadawul, the vast majority is held by Saudi Arabia’s government, fueling its expenditures and providing wealth to its Al Saud royal ...