US EditionCenovus Energy shares jump after it ups dividend, beats on Q1 earnings
- Cenovus Energy posted a first-quarter 2025 profit of $859 million and increased its dividend payout to 20 cents per share for the quarter, driving its stock price up approximately 9.1% on the Toronto Stock Exchange.
- The company posted lower earnings per share and net income compared to last year due to ongoing maintenance, but revenue and production levels increased from the prior year.
- Cenovus returned $333 million in dividends and repurchased $62 million in shares during Q1 plus another $178 million in buybacks after quarter-end, planning further repurchases for the rest of 2025.
- CEO Jon McKenzie stated that the company is advancing its expansion initiatives without significantly disrupting operations, highlighted its ability to maintain dividend payments at a West Texas Intermediate price of $45 per barrel, and anticipates that production levels will return to normal following scheduled maintenance around mid-year.
- Cenovus affirmed its financial discipline supports a strong balance sheet and resilience across commodity price scenarios through 2026, positioning it for stable long-term performance.
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Cenovus Energy shares jump after it ups dividend, beats on Q1 earnings
Shares in oil producer Cenovus Energy Inc. jumped more than nine per cent Thursday after it reported quarterly profits that beat market expectations, upped its shareholder payout and sought to reassure investors it can withstand oil prices much weaker than they are today.
·Canada
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The Toronto Star
The Toronto StarCenovus announces first-quarter 2025 results
CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its first-quarter 2025 financial and operating results. The company generated more than $1.3 billion in cash from operating activities, $2.2 billion of adjusted…
·Niagara Falls, Canada
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