Canadian Natural Resources Reports Q4 Profit Up, Raises Quarterly Dividend

CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend as it reported a fourth-quarter profit of $2.63 billion, up from $1.52 billion a year earlier.

The company says it will now make a quarterly payment to shareholders of $1.05 per share, up from $1.

Canadian Natural reported a profit of $2.41 per diluted share for the quarter ended Dec. 31, up from a profit of $1.36 per diluted share in the last three months of 2022.

Revenue for the quarter amounted to $9.55 billion, down from $9.69 billion.

Production in the quarter totalled 1,419,313 barrels of oil equivalent per day, up from 1,294,679 boe/d a year earlier.

On an adjusted basis, Canadian Natural says it earned $2.34 per diluted share from operations, up from $1.96 per diluted share a year earlier.

This report by The Canadian Press was first published Feb. 29, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press

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