Cenovus announces 2023 first-quarter results, dividend increase

Calgary, alberta, april 26, 2023 (globe newswire) -- cenovus energy inc. (tsx: cve) (nyse: cve) delivered upstream production in the first quarter of 779,000 barrels of oil equivalent per day (boe/d)1 and downstream throughput of 457,900 barrels per day (bbls/d). the company generated $1.4 billion in adjusted funds flow and cash used in operating activities was $286 million. first-quarter results reflect lower commodity prices, reduced production in the upstream business and lower operating throughput in the downstream compared with the fourth quarter. consistent with cenovus's commitment to shareholders, the board of directors approved a 33% increase in the company's base dividend, to $0.56 per share annually starting in the second quarter of 2023.
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