All financial figures are in Canadian dollars.
CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) — Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.465 per share on its common shares, payable March 25, 2020 to shareholders of record at the close of business on March 4, 2020. This dividend represents an approximate 11% increase over the prior quarter and marks 18 years of consecutive annualized dividend increases.
The dividend increase is supported by sustainable, structural improvements to free funds flow through sustained asset reliability, debottlenecks, cost reductions, margin improvement projects, and technological advancements.
In addition, the current $2.5 billion share repurchase program will expire at the end of February. As a result and based on expectations of sustainable future cash flow, Suncor’s Board of Directors has approved a renewal of its share repurchase program of up to $2 billion beginning March 1, 2020.