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

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

Suncor Energy declares increased dividend and announces additional stock buyback program

February 5, 2019 5:15 PM EST

All financial figures are in Canadian dollars.

CALGARY, Alberta, Feb. 05, 2019 (GLOBE NEWSWIRE) -- Suncor Energys Board of Directors has approved a quarterly dividend of $0.42 per share on its common shares, payable March 25, 2019 to shareholders of record at the close of business on March 4, 2019. This dividend represents a 17% increase over the prior quarter and marks 17 years of consecutive annualized dividend increases.

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... More