CALGARY — Cenovus Energy Inc. raised its dividend as it reported a first-quarter profit of $859 million, down from $1.18 billion a year ago.
The oilands company says it will now pay a quarterly dividend of 20 cents per share, up from 18 cents per share.
The increased payment came as Cenovus says its profit amounted to 47 cents per diluted share for the quarter ended March 31, down from 62 cents per diluted share a year earlier.
Cenovus says its adjusted funds flow for the quarter totalled $2.21 billion or $1.21 per diluted for its latest quarter compared with $2.24 billion or $1.19 per diluted share a year ago.
Revenue for the quarter amounted to $13.30 billion, up from $13.06 billion a year earlier.
Total upstream production for the quarter was 818,900 barrels of oil equivalent per day, up from 800,900 boe/d in the same quarter last year. Total downstream crude throughput was 665,400 barrels per day, up from 655,200 barrels per day a year earlier.
This report by The Canadian Press was first published May 8, 2025.
