CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend by 25 per cent as it reported a third-quarter profit of $2.2 billion.

The company says it will now pay a quarterly dividend of 58.75 cents per share.

Canadian Natural’s profit amounted to $1.86 per diluted share for the quarter ended Sept. 30, up from $408 million or 35 cents per diluted share in the same quarter last year.

Revenue totalled $7.71 billion, up from $4.5 billion in the third quarter of 2020.

Daily production averaged 1,237,503 barrels of oil equivalent per day, up from 1,111,286 a year ago.

On an adjusted basis, the company reported a profit from operations of $2.1 billion or $1.77 per diluted share, up from $135 million or 11 cents per diluted share in the same quarter last year.

This report by The Canadian Press was first published Nov. 4, 2021.

Companies in this story: (TSX:CNQ)

The Canadian Press

News from © The Canadian Press, 2021. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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