Canadian Press: Shell Canada reports Q2 profit of $285M, up from $175M a year ago
Thursday, July 22, 2004
CALGARY (CP) – Profits at Shell Canada increased 63 per cent in the second quarter, helped by a significant contribution from its Athabasca oil sands project and higher refining margins.
The sharp increase in profits also prompted Shell to increase its quarterly dividend to 25 cents per share, up from 22 cents per share. Shell shares would yield about 1.5 per cent based on its current stock price.
The Calgary-based energy company said Thursday it earned $285 million or $1.04 per share for the three months ended June 30. That compared with a profit of $175 million or 64 cents per share a year ago.