Imperial Oil Ltd. is elevating its quarterly dividend because it reported incomes $1.25 billion in its first quarter, up from $1.17 billion in the identical quarter a yr earlier.
The corporate says it’ll now pay a quarterly dividend of fifty cents per share, up from 44 cents per share.
The elevated cost to shareholders comes as the corporate says its revenue was $2.13 per diluted share for the quarter ended March 31, up from $1.75 per diluted share a yr earlier.
Complete income and different earnings was $12.12 billion, down from $12.69 billion within the first three months of 2022.
Manufacturing averaged 413,000 gross oil equal barrels per day, in contrast with 380,000 in the identical quarter final yr.
In the meantime, refinery throughput averaged 417,000 barrels per day, up from 399,000 a yr in the past, as refinery capability utilization rose to 96 % from 93 % a yr earlier.
“Imperial’s robust first quarter monetary outcomes had been supported by continued excessive utilization charges throughout our refining community, in addition to document first quarter manufacturing at Kearl supported by improved winter working procedures,” stated Brad Corson, Imperial’s chairman, president and CEO. govt.
“Our robust working efficiency has ensured that Imperial is effectively positioned to maximise worth seize from the present enterprise surroundings.”
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