April 18th, 2024

Crescent Point Energy reports Q4 profit, raises quarterly dividend 15%

By The Canadian Press on February 29, 2024.

The Crescent Point Energy Corp. logo is shown in this undated handout photo. THE CANADIAN PRESS/HO, *MANDATORY CREDIT*

CALGARY – Crescent Point Energy Corp. raised its quarterly base dividend by 15 per cent as it reported fourth-quarter net income of $951.2 million compared with a loss of $498.1 million a year earlier.

The company says it will now pay a quarterly base dividend of 11.5 cents per share, up from 10 cents per share.

Crescent Point says its profit for the quarter ended Dec. 31 amounted to $1.70 per share compared with a loss of 90 cents per share in the last three months of 2022.

Total oil and gas sales were $1.01 billion compared with $1.02 billion a year earlier.

Average daily production in the quarter was 162,269 barrels of oil equivalent per day, up from 134,124 boe/d in the same quarter in 2022.

Adjusted funds flow from operations were $1.03 per share for the quarter, up from 93 cents a year earlier.

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

Companies in this story: (TSX:CPG)

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