Topic: How To Invest

Dividend Advisor Hotline – Friday, January 12, 2018

Article Excerpt

SUNCOR ENERGY INC., $47.35, Toronto symbol SU, is Canada’s largest integrated oil company. With the March 2017 payment, Suncor raised its quarterly dividend by 10.3%. Investors now receive $0.32 a share, up from $0.29. The new annual rate of $1.28 yields 2.7%. The company and Teck Resources Ltd. (Toronto symbol TECK.B) have settled their dispute with France’s Total SA over funding for their $17 billion Fort Hills oil sands project near Fort McMurray, Alberta. Suncor will contribute an additional $300 million to the joint venture. That’s equal to 35% of the $867 million, or $0.52 a share, it earned in the third quarter of 2017. As a result, its ownership in the project will rise to 53.06% from 50.8%. Teck will also pay an extra $120 million to boost its stake from 20.0% to 20.89%. It earned $621 million, or $1.08 a share, in the third quarter. Under the deal, Total SA’s interest will fall to 26.05% from 29.2%. Fort Hills should begin commercial production later…