Canadian Natural Resources Reports Higher Profit in Fourth Quarter
Shares of Canadian Natural Resources are on the rise following the company’s announcement of increased fourth-quarter profit and plans to return all free cash flow to shareholders after surpassing debt levels sooner than expected.
Strong Financial Performance
In the fourth quarter, Canadian Natural Resources reported net earnings of C$2.63 billion, or C$2.41 per share, showing significant growth compared to the previous year. Adjusted earnings per share were C$2.34, surpassing analyst expectations of C$2.15 per share.
Focus on Shareholder Returns
Chief Financial Officer Mark Sainthorpe highlighted the company’s commitment to maximizing shareholder value. Following the achievement of a net debt level of C$10 billion in the fourth quarter, Canadian Natural Resources aims to allocate 100% of free cash flow to shareholders through dividends and share buybacks.
Dividend Increase
In addition to its strong financial performance, the company also announced a 5% increase in its quarterly dividend to C$1.05.
Looking Ahead
Through operational effectiveness and disciplined capital allocation, Canadian Natural Resources continues to drive growth and deliver value to its shareholders.
For more information, visit Canadian Natural Resources’ official website.
