Oil producer Cenovus cuts full-year spending forecast, raises dividend

Canadian oil and gas producer Cenovus Energy Inc (CVE.TO) on Wednesday lowered its full-year spending target and raised its quarterly dividend

The company revised its 2019 capital budget to between C$1.1 billion ($830.25 million) and C$1.2 billion, about C$150 million lower than the midpoint of its previous forecast of between C$1.2 billion and C$1.4 billion.

Investors have generally punished companies that increased spending on drilling instead of returning cash to shareholders. They have called for capital discipline, cleaner balance sheets and better management of cash flow as oil prices remain volatile due to the ongoing global trade uncertainties.

To know more visit us :: http://www.mcxprofithub.com

For Free Trial :: https://api.whatsapp.com/send?phone=918077792434

Like Us On :: https://www.facebook.com/Mcx-Profit-Hub-331229491040253/