Imperial Oil hikes dividend 26%

Joining a parade of Canuck producers with surging cash flow. Pretty good commentary on Energy Security in North America vs the current issues in Europe.


Imperial Oil hiking dividend 26% as cash flow surges

Noah Zivitz, BNN Bloomberg

Imperial Oil has joined the ranks of Canadian oil and gas producers that are sharing their wealth with investors.

The Calgary-based integrated oil sands producer said on Tuesday its board of directors is raising the company’s quarter dividend 26 per cent to 34 cents per share from the current payment of 27 cents. The new dividend takes effect on April 1.

That decision came alongside quarterly results showing Imperial Oil’s cash flow in the fourth quarter soared to $1.63 billion from $316 million a year earlier.