Saudi Aramco will have to raise its already massive annual dividend of $75 billion if it wants to remain competitive with other oil giants and raise its dividend yield to the average for international oil majors, Bank of America said in a note carried by Bloomberg . Despite the fact that it is the world’s largest, the Saudi oil giant’s dividend needs to be even higher if Aramco wants to have a dividend yield at least at the level of international oil giants. ExxonMobil, Chevron, and BP, for example, each have a dividend yield of over 5 percent, while Aramco’s is around 4 percent, Bloomberg notes. “A dividend increase is needed to stay competitive,” BofA analysts led by Karen Kostanian wrote in a note carried by Bloomberg. “Especially given that higher oil prices and OPEC+-driven production increases should support a significant free cash flow increase over the next couple […]