Suncor Energy Inc. (NYSE:SU) to Issue Quarterly Dividend of C$0.60

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, November 4th. Investors of record on Wednesday, December 3rd will be given a dividend of 0.60 per share by the oil and gas producer on Wednesday, December 24th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. This is a 45.1% increase from Suncor Energy’s previous quarterly dividend of $0.41.

Suncor Energy has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Suncor Energy has a payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Suncor Energy to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.65 annual dividend with an expected future payout ratio of 44.8%.

Suncor Energy Price Performance

Shares of SU traded up $2.05 during trading hours on Wednesday, reaching $41.56. 1,320,726 shares of the stock traded hands, compared to its average volume of 4,468,539. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Suncor Energy has a 52-week low of $30.79 and a 52-week high of $43.48. The company’s 50-day moving average price is $40.78 and its two-hundred day moving average price is $38.83. The company has a market cap of $50.13 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 3.52 and a beta of 0.78.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the previous year, the firm posted $1.27 EPS. On average, analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current year.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.