Cameco Corp. CCO-T raised its annual dividend as it reported its fourth-quarter profit and revenue fell compared with a year ago.
The uranium miner says it will now pay an annual dividend of 12 cents a share, up from 8 cents a share.
The increased payment to shareholders came as Cameco reported a profit of $11-million, or 3 cents a diluted share, for the quarter ended Dec. 31 compared with a profit of $80-million, or 20 cents a diluted share, a year earlier.
Revenue for the quarter was $465-million, down from $550-million in the fourth quarter of 2020.
On an adjusted basis, Cameco says it earned 6 cents a diluted share, down from an adjusted profit of 12 cents a diluted share a year earlier.
In its outlook for this year, Cameco says it expects revenue for 2022 between $1.5-billion and $1.65-billion. Capital expenditures for the year are estimated between $150-million and $175-million.
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