CALGARY — Canadian Natural Resources Ltd. raised its dividend as it reported a fourth-quarter profit of $1.14 billion, down from $2.63 billion a year earlier.
The oilsands company says it will now pay a quarterly dividend of 58.75 cents per share, up from 56.25 cents per share.
The increased payment to shareholders came as Canadian Natural reported its profit amounted to 54 cents per diluted share for the quarter ended Dec. 31, down from $1.21 per diluted share in the last three months of 2023.
On an adjusted basis, the Canadian Natural reported a profit from operations of 93 cents per diluted, down from $1.17 per diluted share a year earlier.
Revenue for the quarter totalled $9.47 billion, down from $9.55 billion.
The results came as it produced a record 1,470,428 barrels of oil equivalent per day in the quarter, up from 1,419,313 a year earlier.
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This report by The Canadian Press was first published March 6, 2025.