Canadian Natural Resources Q3 Profit Rises, Tops Estimates; Lifts Dividend

(RTTNews) - Canadian Natural Resources Ltd. (CNQ, CNQ.TO) reported Thursday that its third-quarter net earnings grew to C$2.81 billion from last year's C$2.20 billion.

Earnings per share were C$2.49, up from C$1.86 last year.

Adjusted net earnings from operations was C$3.49 billion or C$3.09 per share, compared to C$2.10 billion or C$1.77 per share last year.

On average, 10 analysts polled by Thomson Reuters expected earnings of C$2.85 per share for the quarter. Analysts' estimates typically exclude special items.

Canadian Natural achieved quarterly natural gas production of 2,132 MMcf/d, a 25 percent increase over last year.

Further, the company said its Board of Directors has approved a 13 percent increase to its quarterly dividend on its common shares to C$0.85 per share. The dividend will be payable on January 5 to shareholders of record at the close of business on December 16.