(RTTNews) - Cenovus Energy Inc. (CVE) on Wednesday reported higher first-quarter profit.
Net earnings increased to C$1.570 billion or C$0.83 per share from C$859 million or C$0.47 per share a year earlier.
Adjusted funds flow rose to C$3.377 billion or C$1.80 per share from C$2.212 billion or C$1.21 per share last year.
Revenue was C$15.014 billion, down from C$16.051 billion in the previous year.
Upstream revenues were $9.4billion, and Downstream revenues were $5.6billion.
The company said it has reached highest ever quarterly Upstream production of 972,100 BOE/d, an increase of 19% year over year.
The Board has declared a quarterly base dividend of C$0.22 per share, payable on June 30, 2026, to shareholders of record on June 15.
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