Energy

Suncor Energy profit jumps more than three-fold

The Suncor Energy logo is seen at their head office in Calgary, Alberta, Canada, April 17, 2019. REUTERS/Chris Wattie

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May 9 (Reuters) – Suncor Energy Inc (SU.TO), Canada’s No.3 oil major, on Monday posted a more than three-fold jump in first-quarter profit and raised its dividend to the highest ever, as the company benefited from soaring oil prices.

The company reported a net income of C$2.95 billion ($2.27 billion), or C$2.06 per share, for the three months ended March 31, up from C$821 million ($631.00 million), or 54 Canadian cents, a year ago.

($1 = 1.3011 Canadian dollars)

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Reporting by Ruhi Soni in Bengaluru; Editing by Subhranshu Sahu

Our Standards: The Thomson Reuters Trust Principles.

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