Cenovus Energy (T.CVE) Q4 operating earnings rise

Canadian Press, The Canadian Press
0 Comments| February 13, 2014


(The Canadian Press) CALGARY – Oilsands producer Cenovus Energy Inc. (TSX: T.CVE, Stock Forum) says its dividend is going up 10%, starting with the next payment in March.

The increased payout to Cenovus shareholders was announced along with the company's improved fourth-quarter results.

The Calgary-based company reported $212 million of operating earnings, equal to 28 cents per share.

That compared with a year-earlier operating loss of $188 million or 25 cents per share.

Cenovus says its quarterly dividend will rise to 26.62 cents per share, to be paid March 31.

Its operating earnings exclude a number of items, including the impact of the company's risk-management programs.

With those items included, Cenovus had a fourth-quarter net loss of $58 million or eight cents per share, which was improved from the year-earlier loss of $15 cents per share or $117 million.

Tags: OIL & GAS INTEGRATED ENERGY

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