Canadian Natural Resources reports Q4 profit down from year ago, raises dividend

Source: CNRL

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.

© 2023 The Canadian Press

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.