1-800-558-9071 Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3; by email request to [email protected]; by calling 1-800-558-9071; or by referring to suncor.com/FinancialReports or to the company’s profile on SEDAR at sedar.com or EDGAR at sec.gov. When oil demand increases, a larger volume of oil passes through its pipelines, which earns it higher fees. The Canada-based oil company was doing well with its integrated business model. CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.465 per share on its common shares, payable March 25, 2020 to shareholders of record at the close of business on March 4, 2 If you have $50,000 in your Tax-Free Savings Account, leverage the current opportunity and lock in high dividends for a lifetime. CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.465 per … Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, How to Profit From the Market Crash: 2 Stocks to Trade in Short Term. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. I understand I can unsubscribe from these updates at any time. Current as of October 27, 2020. Unlike airlines, Suncor has long-lived assets that protect it from the depreciation burden. Even now, as the economy is reopening, there is plenty of inventory that oil companies have to use before starting production in full capacity. The lockdown grounded planes, closed factories, and emptied roads, significantly reducing oil demand. This dividend cut hinted that the company is preparing for multi-year losses. Even at that time, Suncor continued to increase its dividend, as lower oil price boosted demand, thereby increasing its revenue from refining and retail operations. The Motley Fool Canada » Dividend Stocks » Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, Puja Tayal | October 26, 2020 | More on: ENB SU ENB REI.UN SU. Suncor’s operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. Once the economy normalizes, shops will start filling up, and rent will start flowing in. Returns since inception, October 2013. Hence, they reduced production. In five years, when the pandemic subsides, and the stocks recover, they would earn you $56,350 ($22,600 in dividends and $33,750 in capital appreciation) in investment income. This sudden dip in global oil demand left oil companies with no place to store inventory. They are unlikely to cut dividends because of the pandemic, as they still have high cash flows and profits. This dividend growth comes as it increases its cash flows by building more pipelines. However, the pandemic has impacted both oil demand and supply. Don't miss out! From there, Suncor has a bright future for the next 15 years before renewable energy becomes commercial enough to replace oil in most cases. But they didn’t cut their dividends when the pandemic was at its peak. © 2020 The Motley Fool Canada, ULC. Even though RioCan reported a net loss of $350.8 million in the second quarter, it was not a cash loss. All financial figures are in Canadian dollars. Just Released! The Motley Fool owns shares of and recommends Enbridge. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. With both demand and supply environment bleak, all oil companies, including Suncor, are cutting costs and reducing capital expenditures to maintain liquidity. For dividends, RioCan REIT (TSX:REI.UN) is a better option. However, once in a while, there is a major economic crisis that leaves no security safe. Forward-looking statements are based on Suncor’s current expectations, estimates, projections and assumptions that were made by the company in light of its information available at the time the statement was made and consider Suncor’s experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves and resources estimates; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals. 5 Stocks Under $49 (FREE REPORT). Enbridge has a 25-year history of paying incremental dividends. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? Dominion’s Canadian counterpart is Enbridge, which transmits oil and natural gas through its pipeline network for a fee. Suncor’s actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them. Since 2008, Suncor has been steadily increasing its dividend every four to six quarters. The short-term energy headwinds have discounted Enbridge and RioCan stock price by 30% and 45%, respectively. The Motley Fool recommends Dominion Energy, Inc. Not to alarm you, but you’re about to miss an important event. If you want exposure in energy, a better option is Enbridge (TSX:ENB)(NYSE:ENB). The next risk is a decrease in occupancy rate, which would be mitigated by its properties in prime locations. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor Energy is Canada’s leading integrated energy company. Five years is a long time. Suncor’s common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. Forward-looking statements may be identified by words like “expect”, “will”, “future” and similar expressions. In addition, the current $2.5 billion share repurchase program will expire at the end of February. Even at that time, Suncor continued to increase its dividend, as lower oil price boosted demand, thereby increasing its revenue from refining and retail operations. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. Stock market investing can be a risky bet in the short term but a safer bet in the long term. It expects to increase its cash flow between 5% and 7% through 2022, which means it would continue to grow dividends in the coming years.
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