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Canadian Natural Q4 profit rises to $566 million

Canadian Natural Resources Ltd. (TSX:CNQ) says its net income in last year’s fourth quarter rose to $566 million, up from $131 million a year earlier.

Revenue at the Calgary-based oil and gas company was $3.67 billion, up from $2.96 billion in the fourth quarter of 2015.

The net income was equal to 51 cents per share, up from 12 cents per share.

CNRL said its adjusted earnings during the quarter equalled 40 cents per share, which was above analyst estimates of 12 cents per share, according to data compiled by Thomson Reuters.

Canadian Natural also announced that its quarterly dividend will rise by 10 per cent to 25 cents per share, payable April 1.