Suncor Energy Inc. (NYSE:SU) Plans Quarterly Dividend of C$0.60

Key Points

• Suncor announced a quarterly dividend of C$0.60 per share, with an ex‑dividend/record date of June 4 and payable on June 25, implying a yield of about 3.6%.
• The company has raised its dividend for four consecutive years and currently has a payout ratio of 58.5%, while analysts' earnings forecasts would lower the implied payout to roughly 33% next year, suggesting the dividend is reasonably covered.
• Suncor shares fell about 4.1%, trading near $66.81 with a 12‑month range of $33.50–$70.29, a market cap around $79.1 billion and a P/E of 19.25.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU announced a quarterly dividend on Tuesday, May 5th. Investors of record on Thursday, June 4th will be given a dividend of 0.60 per share by the oil and gas producer on Thursday, June 25th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, June 4th.

Suncor Energy has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 4 years. Suncor Energy has a dividend payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Suncor Energy to earn $5.24 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 33.4%.

Suncor Energy Stock Down 4.1%

NYSE SU opened at $66.81 on Wednesday. Suncor Energy has a 12 month low of $33.50 and a 12 month high of $70.29. The company has a market capitalization of $79.12 billion, a P/E ratio of 19.25 and a beta of 0.31. The company's 50 day simple moving average is $62.30 and its 200 day simple moving average is $51.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period last year, the firm posted $1.25 earnings per share. Equities research analysts expect that Suncor Energy will post 6.72 earnings per share for the current fiscal year.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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