Canadian Natural gas firm Encana Corp. (ECA,ECA.TO) posted first-quarter net earnings of $12 million or 2 cents per share, as against a loss of $361 million last year. Operating earnings were $240 million, or $0.33 per share, up from $218 million, or $0.30 per share in the prior-year quarter.
Cash flow of $1.0 billion, or $1.39 per share, grew 6 percent from the 2011 first quarter supported by the company's commodity price hedging program, contributing $358 million in realized after-tax gains, or 49 cents per share.
The company is now targeting to have about $3 billion in cash and cash equivalents on its balance sheet by the end of 2012. Additionally, Encana's board has declared a quarterly dividend of 20 cents per share payable on June 29, 2012 to common shareholders of record as of June 15, 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.