Suncor Energy declares increased dividend and announces additional stock buyback program
CALGARY, Alberta, Feb. 05, 2019 — Suncor Energy’s 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 stock buyback program by the end of February. As a result and based on expectations of sustainable future cash flow, Suncor’s Board of Directors has approved an additional stock buyback program of up to $2 billion.
For more information about Suncor, visit our web site at suncor.com