Canadian Natural Resources Ltd. raised its quarterly dividend by 25 per cent as it reported a third-quarter profit of $2.2-billion.
The company says it will now pay a quarterly dividend of 58.75 cents a share.
Canadian Natural’s profit amounted to $1.86 a diluted share for the quarter ended Sept. 30, up from $408-million, or 35 cents a diluted share, in the same quarter last year.
Revenue totalled $7.71-billion, up from $4.5-billion in the third quarter of 2020.
Daily production averaged 1,237,503 barrels of oil equivalent a day, up from 1,111,286 a year ago.
On an adjusted basis, the company reported a profit from operations of $2.1-billion, or $1.77 a diluted share, up from $135-million, or 11 cents a diluted share, in the same quarter last year.
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