Imperial Oil Q4 profit drops to $1.37bn due to lower commodity prices, but raises quarterly dividend by 20% to 60 cents per share.

Canadian oil and gas company Imperial Oil reported a Q4 profit of $1.37 billion, down from $1.73 billion in 2021, due to lower commodity prices. Despite the decrease in profit, the company increased its quarterly dividend by 20%, raising the payment to 60 cents per share. Imperial Oil's upstream production increased to 452,000 gross oil-equivalent barrels per day, while refinery throughput averaged 407,000 barrels per day, although both were lower than the previous year's quarter.

February 02, 2024
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