UPDATE: Suncor Energy (SU) Raises Quarterly Dividend 16.7% to C$0.42; Approves Additional C$2B Buyback

(All financial figures are in Canadian dollars.)

Suncor Energy (NYSE: SU) declared a quarterly dividend of C$0.42 per share, or C$1.68 annualized. This is a 16.7% increase from the prior dividend of $0.36.

The dividend will be payable on March 25, 2019, to stockholders of record on March 4, 2019, with an ex-dividend date of March 1, 2019.

The dividend increase is supported by sustainable, structural improvements to free funds flow through operating efficiencies, strategic counter-cyclical investments and operating performance of Fort Hills and Hebron.

In addition, Suncor expects to complete the current $3 billion stock buyback program by the end of February. As a result and based on expectations of sustainable future cash flow, Suncor’s Board of Directors has approved an additional stock buyback program of up to C$2 billion.

For a dividend history and other dividend-related data on Suncor Energy (SU) click here.

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