CALGARY – Oilsands producer Cenovus Energy Inc. says its dividend is going up 10 per cent, starting with the next payment in March.
The increased payout to Cenovus shareholders was announced along with the company’s improved fourth-quarter results.
The Calgary-based company reported $212 million of operating earnings, equal to 28 cents per share.
That compared with a year-earlier operating loss of $188 million or 25 cents per share.
Cenovus says its quarterly dividend will rise to 26.62 cents per share, to be paid March 31.
Its operating earnings exclude a number of items, including the impact of the company’s risk-management programs.
With those items included, Cenovus had a fourth-quarter net loss of $58 million or eigh cents per share, which was improved from the year-earlier loss of $15 cents per share or $117 million.