Suncor Energy Declares Dividend and Amends Normal Course Issuer Bid

Posted by OilVoice Press - OilVoice


Suncor Energy's Board of Directors has approved a quarterly dividend of $0.36 per share on its common shares, payable December 24, 2018 to shareholders of record at the close of business on December 3, 2018.

Suncor also announced today that the Toronto Stock Exchange (TSX) accepted a notice filed by Suncor of its intention to amend its existing normal course issuer bid (the NCIB) effective as of November 19, 2018 to purchase common shares through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms. The notice provides that Suncor may increase the maximum number of common shares that may be repurchased in the period beginning May 4, 2018 and ending May 3, 2019 from approximately $2.15 billion, or approximately 3% of Suncor's issued and outstanding common shares as at April 30, 2018, to approximately $3 billion, or approximately 5% of Suncor's issued and outstanding common shares as at April 30, 2018. The decision to increase the NCIB was previously announced with Suncor's second quarter release on July 25, 2018. No other terms of the NCIB have been amended.

Between May 4, 2018 and November 13, 2018 and pursuant to the NCIB, Suncor has already repurchased approximately $1.98 billion of common shares on the open market. Pursuant to the NCIB (as amended), Suncor has agreed that it will not purchase more than 81,695,830 common shares, of which 39,101,184 common shares have already been purchased between May 4, 2018 and November 13, 2018.

The actual number of common shares that may be purchased and the timing of any such purchases will be determined by Suncor. Suncor believes that, depending on the trading price of its common shares and other relevant factors, purchasing its own shares represents an attractive investment opportunity and is in the best interests of the company and its shareholders. The company does not expect the decision to allocate cash to repurchase shares will affect its long-term growth strategy.

From November 14, 2017 to May 1, 2018, under Suncor's previous normal course issuer bid, Suncor successfully completed the purchase of approximately $926 million worth of its common shares (20,936,298 common shares) at a weighted average price of $44.21 per common share.

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

DividendSuncor Energy

More items from oilvoice

Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice

Posted 9 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice

Posted 1 year agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice

Posted 1 year agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice

Posted 1 year agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice

Posted 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice