Cenovus Energy Inc (CVE) to Issue Quarterly Dividend of C$0.20 on December 31st

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Friday, October 31st. Stockholders of record on Monday, December 15th will be given a dividend of 0.20 per share by the oil and gas company on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th.

Cenovus Energy has raised its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Cenovus Energy has a dividend payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cenovus Energy to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 29.8%.

Cenovus Energy Price Performance

NYSE CVE traded up $0.32 during trading hours on Friday, reaching $18.04. 34,042,073 shares of the stock traded hands, compared to its average volume of 9,007,459. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.73 and a quick ratio of 1.18. The stock has a 50 day simple moving average of $17.52 and a two-hundred day simple moving average of $16.00. Cenovus Energy has a 1 year low of $10.23 and a 1 year high of $18.75. The company has a market cap of $34.09 billion, a price-to-earnings ratio of 14.78 and a beta of 0.52.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $12.51 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. On average, analysts predict that Cenovus Energy will post 1.49 EPS for the current fiscal year.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.