Topic: How To Invest

Dividend Advisor Hotline – Thursday, April 14, 2022

Article Excerpt

SUNCOR ENERGY INC., $42.57, Toronto symbol SU, is a buy. The company is Canada’s largest integrated oil firm, with major projects in the Alberta oil sands. Suncor also operates four refineries (three in Canada and one in Colorado), along with 1,875 Petro-Canada gas stations. With the December 2021 payment, Suncor doubled your quarterly dividend to $0.42 a share from $0.21. The new annual rate of $1.68 yields a high 3.9%. The oil giant aims to cut its carbon dioxide emissions to zero (on a net basis) by 2050. Under that plan, the company has invested in renewable wind and solar energy projects. Those include eight wind farms in Saskatchewan, Alberta and Ontario. However, Suncor feels it can better reach its carbon goals by focusing on carbon capture systems and fuels made from waste wood and other renewable sources. As a result, it now plans to sell its wind and solar projects. The company will probably complete these sales by the end of 2022. Suncor still expects…