Cenovus Energy Q1 Earnings, Sales Surge

(RTTNews) - Cenovus Energy Inc. (CVE) on Wednesday reported net earnings of C$1.625 billion or C$0.81 per share in the first quarter, significantly higher than C$220 million or C$0.10 per share in the same quarter a year ago.

Revenue for the quarter increased to C$17.959 billion from C$15.557 billion in the previous quarter, driven by higher average realized sales prices for the company's products across the Upstream and Downstream businesses.

Cenovus Energy declared a dividend of C$0.105 per share, a 200% increase from prior dividend of C$0.035 per share. The dividend is payable on June 30, to common shareholders of record as of June 15.