Market MoversOn The Rise Crescent Point Energy Corp.was up after it raised its quarterly base dividend by 15 per cent as it reported fourth-quarter net income of $951.2-million compared with a loss of $498.1-million a year earlier.
The company says it will now pay a quarterly base dividend of 11.5 cents per share, up from 10 cents per share.
Crescent Point says its profit for the quarter ended Dec. 31 amounted to $1.70 per share compared with a loss of 90 cents per share in the last three months of 2022.
Total oil and gas sales were $1.01-billion compared with $1.02-billion a year earlier.
Average daily production in the quarter was 162,269 barrels of oil equivalent per day, up from 134,124 boe/d in the same quarter in 2022.
Adjusted funds flow from operations were $1.03 per share for the quarter, up from 93 cents a year earlier.