IMPERIAL OIL $52.18 - Toronto symbol IMO

IMPERIAL OIL $52.18 (Toronto symbol IMO; Shares outstanding: 847.6 million; Market cap: $44.9 billion; TSINetwork Rating: Average; Div. yield: 1.0%; www.imperialoil.ca) has begun converting its 95-year-old refinery in Dartmouth, Nova Scotia, into a storage facility for refined petroleum products, such as gasoline, diesel and home heating oil. This conversion will take several years to compete, but the refinery was losing money, so this project should boost Imperial’s long-term earnings.

Imperial Oil is a buy.

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Imperial Oil Ltd. toronto

Pat McKeough

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