Suncor Energy Inc. (NYSE:SU) Declares C$0.60 Quarterly Dividend

Suncor Energy Inc. (NYSE:SU) (TSE:SU) announced a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, September 4th will be paid a dividend of 0.60 per share by the oil and gas producer on Friday, September 25th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 4th.

Suncor Energy has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 4 years. Suncor Energy has a payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Suncor Energy to earn $5.88 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 29.4%.

Suncor Energy Price Performance

SU stock opened at $65.19 on Wednesday. The stock has a market capitalization of $76.97 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.49 and a beta of 0.29. The firm’s 50-day moving average price is $60.57 and its two-hundred day moving average price is $60.40. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy has a 12-month low of $37.76 and a 12-month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the prior year, the company posted $1.31 earnings per share. As a group, equities analysts predict that Suncor Energy will post 7.11 earnings per share for the current year.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.