Cenovus announces second quarter results, additional measures to build shareholder value
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Cenovus Energy (CVE) Tops Q2 EPS by 5c; Cuts Dividend
July 30, 2015 9:56 AM EDTCenovus Energy (NYSE: CVE) reported Q2 EPS of $0.15, $0.05 better than the analyst estimate of $0.10.
Dividend updateWith the expectation of a prolonged period of low oil prices and the cash flow impact from the sale of its royalty and fee land business, Cenovus is reducing its dividend by 40%. The Board of Directors has declared a third quarter dividend of $0.16 per share, payable on September 30, 2015 to common shareholders of record as of September 15, 2015. Based on the July 29, 2015 closing share price on the Toronto Stock Exchange of $18.61, this represents an annualized yield... More
