All financial figures are in Canadian dollars.
Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.42 per share on its common shares, payable December 24, 2019 to shareholders of record at the close of business on December 3, 2019.
Suncor’s Board of Directors has also approved an increase to the company’s current share repurchase program of an additional $500 million increasing the program from $2.0 billion to $2.5 billion. Suncor will continue to be opportunistic in its execution of the program and, should market conditions allow, Suncor expects to repurchase between $2.0 and $2.5 billion of common shares by the end of February 2020. As of Friday November 8, 2019, Suncor has completed repurchases of $1.74 billion, or approximately 42.7 million shares under the Board approved program, representing approximately 2.8% of total shares outstanding.
Since recommencing the share repurchase program in May of 2017, Suncor has repurchased approximately $6.6 billion or 149.3 million shares for approximately 8.9% of total shares outstanding at that time.