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Aramco published H1 2026 results on 4 August. Net profit up 42% year on year. Q2 dividend: SAR0.3393 per share.
I hold 303 shares. That is SAR102.81 arriving on 27 August.
That felt like the right moment to write this.
Same format as Issue 12. Same rule: nothing omitted.
THE PORTFOLIO — 5 August 2026
Nine positions. SAR45,280 deployed. Market value SAR48,246 as of 5 August 2026.
Unrealised gain: +SAR2,966 (+6.55%).
Cash balance: SAR1,067.69. Total portfolio value including cash: SAR49,314.01.
All figures from SAB Invest Customer Holdings Report, 05 August 2026.
WHAT CHANGED
The standing order ran every month without me touching it. All income positions grew.
Jarir is the one I want to name specifically. I had 250 shares in Issue 12. I now have 500. That happened because I kept redirecting the monthly surplus there first, highest yield on cost gets capital first. At 500 shares, the quarterly dividend is now SAR105. Three months ago it was SAR52.50. Same stock, same rate, twice the income. That is the framework working.
Al Rajhi moved from 41 to 88 shares through two things. In April, Al Rajhi issued bonus shares at a 1-for-2 ratio. One new share for every two held. My 41 became around 61 overnight. I have continued adding through the standing order since then, reaching 88 as of today. The average cost of SAR66.31 reflects all of that.
One new position — Elm Co. (7203)
One share at SAR667.15. Elm is a Saudi technology business focused on digital infrastructure and government services. I am not calling this a conviction position. I bought one share so it shows up on my portfolio and I am forced to read every quarterly result. It is a watching brief.
One position entered and exited — Dar Al Arkan
I bought Dar Al Arkan and sold it within the same period. It did not fit the income framework. I was looking at price movement, not dividends. That was the wrong filter. I closed it, took the loss, and moved the capital. I am writing it here because it happened and I do not edit these out.
THE DIVIDENDS
The table above carries forward exactly from Issue 12. Six payments, SAR359.14 total, all verified against Tadawul filings.
Three more are confirmed and arriving this month.
SNB H1 2026: SAR1.15 per share on 57 shares. SAR65.55. Payment date 10 August.
Jarir Q2 2026: SAR0.21 per share on 500 shares. SAR105.00. Payment date 20 August.
Aramco Q2 2026: SAR0.3393 per share on 303 shares. SAR102.81. Payment date 27 August.
Running total when all three land: SAR632.50.
The Jarir number is the one I keep coming back to. SAR52.50 in Q1. SAR105.00 in Q2. Not because the rate changed. Because I doubled the position. That is what consistent reinvestment into the right place actually looks like in practice.
THE MARKET
TASI at 10,769 as of late July. YTD +2.7%.
July was not quiet. Houthi forces hit two Saudi tankers in the Red Sea on 22 July. Oil moved from $101 to $88 in five days. Aramco still posted a 42% profit jump and confirmed the dividend.
The positions showing losses on paper, SNB, Al Rajhi, are still paying dividends and growing earnings. The positions showing gains, Jarir at +14.45%, Albilad US ETF at +18.02%, are doing so because the businesses are doing well, not because of any decision I made after April.
I built the structure in April and let it run. That is still the whole plan.
THE HONEST SUMMARY
Five months. Portfolio up 6.55%. SAR359 in confirmed dividends received. SAR273 more arriving this month. One mistake named and closed. One monitoring position added.
The standing order ran every month. Nothing broke.
Next issue: what "tax-free" actually means for your lifetime wealth. I will run the real number. Most people in the Gulf have never done this calculation and the result is bigger than you expect.
— The Quiet Compounder
The Quiet Compounder is for educational purposes only and is not financial advice. Always do your own research or consult a licensed advisor before making investment decisions.
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