(The Canadian Press) CALGARY – Oilsands producer Cenovus Energy Inc.
, 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.