Crescent Point announces special dividend, reports Q4 loss

Crescent Point Flat Lake battery south of Torquay on Oct. 27. Photo by Brian Zinchuk

CALGARY — Crescent Point Energy Corp. announced a special dividend as it reported a loss in its latest quarter, weighed down by a one-time impairment charge.

The company says it will pay a special cash dividend, based on its fourth-quarter results, of 3.2 cents per share on March 17, to shareholders of record as of March 10.

The payment is in addition to the company’s regular quarterly dividend of 10 cents.

Crescent Point reported a fourth-quarter loss of $498.1 million or 90 cents per share for the quarter ended Dec. 31 compared with a profit of $121.6 million or 21 cents per share in the last three months of 2021.

The company said its adjusted profit from operations amounted to $209.8 million or 38 cents per share for its fourth quarter, up from $160.0 million or 27 cents per share a year earlier.

Average daily production for the quarter amounted to 134,124 barrels of oil equivalent per day, up from 130,407 in the fourth quarter of 2021.

This report by The Canadian Press was first published March 2, 2023.

Companies in this story: (TSX:CPG)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

• 9002 Pipeline Online 30 sec EBEX
  9002 Pipeline Online 30 sec EBEX
• 0056 OSY Rentals Hockey Draft 2023
  0056 OSY Rentals Hockey Draft 2023
• 0055 Smart Power Be Smart with your Power office
  0055 Smart Power Be Smart with your Power office
• 0015 Latus Viro
  0015 Latus Viro
• 0054 SIMSA Energy Forum
  0054 SIMSA Energy Forum
• 0053 Kingston Midstream Westspur Alameda
  0053 Kingston Midstream Westspur Alameda
• 0052 Predator Inspections
  0052 Predator Inspections
• 0051 JML Hiring Pumpjack assembly
  0051 JML Hiring Pumpjack assembly
• 0049 Scotsburn Dental soft guitar
  0049 Scotsburn Dental soft guitar
• 0046 City of Estevan This is Estevan
  0046 City of Estevan This is Estevan
• 0043 ALX ten sizes
  0043 ALX ten sizes
• 0039 Summit ESP Saskatchewan lower third
  0039 Summit ESP Saskatchewan lower third
• 0041 DEEP Since 2018 now we are going to build
  0041 DEEP Since 2018 now we are going to build
• 0032 IWS Summer hiring rock trailer music
• 0022 Grimes winter hiring
• 0021 OSY Rentals S8 Promo
• 0018 IWS Hiring Royal Summer
• 0013 Panther Drilling PO ad 03 top drive rigs
• 0011
• 0006 JK Junior
• 0004 Royal Helium PO Ad 02
• 9001
• 0002