Suncor Energy facility is seen in Sherwood Park, Alberta, Canada August 21, 2019. REUTERS/Candace Elliott/File Photodoubled its dividend on Wednesday as a rebound in crude prices from pandemic-driven lows helped it post a third-quarter profit compared with a year-ago loss.
The rebound helped Suncor reinstate its dividend to pre-pandemic 2019 levels of 42 Canadian cents per share, from 21 Canadian cents per share. The Canadian oil sands producer said its Fort Hills mine in northern Alberta was on track to ramp to full rates by the end of 2021. It had discovered in July that a critical slope at the mine was becoming unstable.
Wow! I’m so glad we continue to subsidize these companies.
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