Canadian Natural Resources reports Q4 profit down from year ago, raises dividend
By The Canadian Press on March 2, 2023.
CALGARY – Canadian Natural Resources Ltd. raised its quarterly dividend as it reported its fourth-quarter profit fell compared with a year earlier. The company says it will pay a quarterly dividend of 90 cents per share, up from 85 cents per share. The increased payment came as Canadian Natural says it earned $1.52 billion or $1.36 per diluted share for the quarter ended Dec. 31, down from $2.53 billion or $2.14 per diluted share in the last three months of 2021. Production in the quarter averaged 1,294,679 barrels of oil equivalent per day, down from 1,313,900 in the same quarter a year earlier. Canadian Natural says its adjusted profit from operations amounted to $1.96 per diluted share for its latest quarter, down from $2.21 per diluted share a year earlier. The average analyst estimate had been for a profit of $2.27 per share, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first March 2, 2023. Companies in this story: (TSX:CNQ) 9-8
