Suncor Energy (SU) Declares $0.42 Quarterly Dividend; Approves Additional $500M Buyback

Suncor Energy (NYSE: SU) declared a quarterly dividend of $0.42 per share, or $1.68 annualized.

The dividend will be payable on December 24, 2019, to stockholders of record on December 3, 2019, with an ex-dividend date of December 2, 2019.

The annual yield on the dividend is 5.3 percent.

Suncor’s Board of Directors has also approved an increase to the company’s current share repurchase program of an additional $500 million increasing the program from $2.0 billion to $2.5 billion. Suncor will continue to be opportunistic in its execution of the program and, should market conditions allow, Suncor expects to repurchase between $2.0 and $2.5 billion of common shares by the end of February 2020. As of Friday November 8, 2019, Suncor has completed repurchases of $1.74 billion, or approximately 42.7 million shares under the Board approved program, representing approximately 2.8% of total shares outstanding.

Since recommencing the share repurchase program in May of 2017, Suncor has repurchased approximately $6.6 billion or 149.3 million shares for approximately 8.9% of total shares outstanding at that time.

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

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