Canadian Natural Resources Ltd (CNQ), an oil and natural gas company, Thursday reported higher earnings and revenue for the fourth quarter compared to the same period last year. The company also announced that it is increasing its dividend payout by 6 percent.
Quarterly earnings increased to C$5.30 billion or C$2.54 per share from C$1.14 billion or C$0.54 per share of last year.
The company reported a gain of C$4.98 billion on acquisitions, disposition, and remeasurement income this quarter which was absent for the same period prior year.
However, Adjusted net earnings decreased to C$1.7 billion or C$0.82 per share from C$1.97 billion or C$0.93 per share of last year.
Revenue grew to C$9.6 billion from C$9.47 billion of the previous year.
Additionally, the company approved a 6 percent increase in the quarterly dividend to C$0.625 per common share beginning with the dividend payable on April 7.
Further, the oil and natural gas firm was authorized to file a Notice of Intention with the Toronto Stock Exchange or TSX via a Normal Course Issuer Bid to purchase up to 10 percent of its common shares.
In pre-market activity, CNQ shares were trading at $45.75, up 1.29% on the New York Stock Exchange.
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