Imperial Oil profits increase over same quarter last year
The company says it will now pay a quarterly dividend of 50 cents per share, up from 44 cents per share.
The increased payment to shareholders comes as the company says its profit amounted to $2.13 per diluted share for the quarter ended March 31, up from $1.75 per diluted share a year earlier. Total revenue and other income amounted to $12.12 billion, down from $12.69 billion in the first three months of 2022.
Production averaged 413,000 gross oil-equivalent barrels per day, up from 380,000 in the same quarter last year.Meanwhile, refinery throughput averaged 417,000 barrels per day, up from 399,000 a year ago, as refinery capacity utilization rose to 96 per cent compared with 93 per cent a year earlier.
“Our strong operating performance ensured Imperial was well positioned to maximize value capture from the current business environment.”
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