Canadian Natural reports $2.2-billion Q3 profit, raises quarterly dividend

Canadian Natural Resources Ltd. raised its quarterly dividend by 25 per cent as it reported a third-quarter profit of
$2.2 billion.

The Calgary-based company says it will now pay a quarterly dividend of 58.75 cents per share.

Canadian Natural’s profit amounted to $1.86 per diluted share for the quarter ended Sept. 30, up from $408 million or 35 cents per diluted share in the same quarter last year.

Revenue totalled $7.71 billion, up from $4.5 billion in the third quarter of 2020. 

Daily production averaged 1,237,503 barrels of oil equivalent per day, up from 1,111,286 a year ago.

On an adjusted basis, the company reported a profit from operations of $2.1 billion or $1.77 per diluted share, up from $135 million or 11 cents per diluted share in the same quarter last year.

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