CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend by 25 per cent as it reported a third-quarter profit of $2.2 billion.
The company says it will now pay a quarterly dividend of 58.75 cents per share.
Canadian Natural’s profit amounted to $1.86 per diluted share for the quarter ended Sept. 30, up from $408 million or 35 cents per diluted share in the same quarter last year.
Revenue totalled $7.71 billion, up from $4.5 billion in the third quarter of 2020.
Daily production averaged 1,237,503 barrels of oil equivalent per day, up from 1,111,286 a year ago.
On an adjusted basis, the company reported a profit from operations of $2.1 billion or $1.77 per diluted share, up from $135 million or 11 cents per diluted share in the same quarter last year.
This report by The Canadian Press was first published Nov. 4, 2021.
Companies in this story: (TSX:CNQ)
The Canadian Press
Do you have a news tip or a story idea?
Send it our way!