CALGARY – Imperial Oil Ltd. raised its quarterly dividend as it reported a fourth-quarter profit of $1.23 billion, down from $1.37 billion in the same quarter last year.
The company says the profit amounted to $2.37 per diluted share for the quarter ended Dec. 31, down from $2.47 per diluted share a year earlier.
The result came as Imperial’s total revenue and other income amounted to $12.61 billion for the quarter, down from $13.11 billion in the same quarter last year.
The company says it is raising its dividend by 20 per cent to 72 cents per share, from 60 cents.
Imperial says upstream production in the quarter averaged 460,000 gross oil-equivalent barrels per day, its highest quarterly production in more than 30 years when adjusting for the divestment of XTO Energy Canada. The result was up from 452,000 gross oil-equivalent barrels per day a year earlier.
Downstream throughput in the quarter averaged 411,000 barrels per day, with overall refinery capacity utilization of 95 per cent, compared with 407,000 barrels per day and 94 per cent utilization a year ago.
This report by The Canadian Press was first published Jan. 31, 2025.
Companies in this story: (TSX:IMO)
