Cenovus reduces 2019 capital budget guidance

Cenovus positioned for $11 billion of cumulative free funds flow through 2024.cenovus energy inc - cenovus has reduced its 2019 capital budget guidance to between $1.1 billion and $1.2 billion.cenovus energy inc - cumulative free funds flow of approximately $11 billion through 2024.cenovus energy inc - increasing total volumes to about 550,000 barrels of oil equivalent per day (boe/d) by end of 2024.cenovus energy inc - cenovus is announcing a 25% dividend increase.cenovus energy inc - believes it will have capacity for further dividend increases at potential growth rate of 5% to 10% annually.cenovus energy inc - for q4 of 2019, board of directors has declared a dividend of $0.0625 per share.cenovus energy inc - continues to progress toward its long-term net debt target of $5 billion.cenovus energy inc - cenovus's strategy through 2024 will focus on sustainably growing shareholder returns and further reducing net debt.cenovus energy inc - cenovus's planned capital profile remains very modest, not exceeding $1.9 billion in any given year.cenovus energy inc - remains on track to ramp up its crude-by-rail capacity to approximately 100,000 bbls/d by end of 2019..cenovus energy inc - exploring potential to build a diluent recovery unit (dru) at its bruderheim transloading terminal in alberta.
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