Crescent Point announces special dividend, reports Q4 loss

Mar 2, 2023

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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 This material may not be published, broadcast, rewritten or redistributed.

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