April 18th, 2024

Canadian Natural Resources reports Q4 profit up, raises quarterly dividend

By The Canadian Press on February 29, 2024.

Canadian Natural Resources Ltd. raised its quarterly dividend as it reported a fourth-quarter profit of $2.63 billion, up from $1.52 billion a year earlier. The Canadian Natural Resources logo is shown at the company's annual meeting in Calgary, Thursday, May 4, 2017. THE CANADIAN PRESS/Jeff McIntosh

CALGARY – Canadian Natural Resources Ltd. raised its quarterly dividend as it reported a fourth-quarter profit of $2.63 billion, up from $1.52 billion a year earlier.

The company says it will now make a quarterly payment to shareholders of $1.05 per share, up from $1.

Canadian Natural reported a profit of $2.41 per diluted share for the quarter ended Dec. 31, up from a profit of $1.36 per diluted share in the last three months of 2022.

Revenue for the quarter amounted to $9.55 billion, down from $9.69 billion.

Production in the quarter totalled 1,419,313 barrels of oil equivalent per day, up from 1,294,679 boe/d a year earlier.

On an adjusted basis, Canadian Natural says it earned $2.34 per diluted share from operations, up from $1.96 per diluted share a year earlier.

This report by The Canadian Press was first published Feb. 29, 2024.

Companies in this story: (TSX:CNQ)

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