Imperial Oil Stock Price, News & Analysis

Imperial Oil Limited has announced a substantial issuer bid to purchase for cancellation up to $2.5 billion of its common shares. The offer, which will use a modified Dutch auction format, is expected to commence on May 6, 2022 and remain open until June 10, 2022. The purchase price per share will range from $62.00 to $78.00. ExxonMobil, holding approximately 69.6% of shares, plans to participate proportionately to maintain its ownership stake.

Imperial Oil Limited (TSE: IMO, NYSE: IMO) has announced a quarterly dividend of 34 cents per share, payable on July 1, 2022, to shareholders of record by June 2, 2022. This dividend remains unchanged from the first quarter of 2022. Imperial boasts over a century of consistent dividend payments, with an impressive track record of increasing its annual dividend for 27 consecutive years. As Canada's largest petroleum refiner and a key player in crude oil production, Imperial maintains high operational standards while focusing on sustainable energy development.

Imperial Oil Limited (TSE: IMO, NYSE: IMO) has authorized a substantial issuer bid to purchase up to $2.5 billion of its common shares. The bid, recommended by a special committee of independent directors, will be launched within two weeks and completed by the end of June 2022. Shareholders can tender their shares via a modified Dutch auction or a proportionate tender. Exxon Mobil Corporation, Imperial's majority shareholder, plans to maintain its stake of approximately 69.6% following the offer. The offer is subject to obtaining necessary regulatory approvals in Canada and the U.S.

Imperial Oil reported a record first quarter net income of $1,173 million, marking the highest in over 30 years, primarily driven by favorable market conditions. Upstream income totaled $782 million, while downstream income reached $389 million. Operating cash flow was $1,914 million, with free cash flow of $1,635 million. Despite upstream production averaging 380,000 barrels per day affected by cold weather, refinery utilization was strong at 93%. The company declared a 34 cents per share dividend and announced plans for a $2.5 billion share buyback.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host a 2022 First Quarter Earnings Call on April 29 at 9 a.m. MT. CEO Brad Corson and VP of Investor Relations Dave Hughes will discuss the company's earnings released that morning. The event will be accessible via webcast and will remain available for a year following the call.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host its 2022 Investor Day on March 10 at 8 a.m. MT, featuring updates on operations and business strategy. CEO Brad Corson and VP of Investor Relations Dave Hughes will lead the session, which includes a Q&A segment. Interested parties can register for a live webcast, which will be accessible for one year on the company’s website. Imperial is Canada’s largest petroleum refiner and a significant crude oil producer, committed to high operational standards and innovation.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced a quarterly dividend of 34 cents per share, payable on April 1, 2022, to shareholders of record as of March 3, 2022. This marks an increase from the 27 cents per share dividend declared for the fourth quarter of 2021. With over a century of dividend payments, Imperial has raised its annual dividend for 27 consecutive years, reflecting its financial stability and growth in Canada's petroleum industry.

Imperial Oil reported a fourth quarter net income of $813 million and cash flow from operating activities of $1,632 million, despite impacts from extreme cold weather. Full-year net income reached $2,479 million, the highest since 2014. The company achieved its highest annual Upstream production in over 30 years, driven by record Kearl production. Shareholder returns totaled nearly $3 billion in 2021, highlighted by a 26% dividend increase. Imperial also committed to a 30% reduction in GHG emissions intensity by 2030, supporting its goal for net-zero emissions by 2050.

Imperial Oil has announced plans to reduce its greenhouse gas emissions intensity from oil sands operations by 30% by 2030, using next-generation technologies and carbon capture solutions. The company reaffirms its goal for net zero emissions by 2050, collaborating with governments and industry partners. This initiative builds on a successful 20% reduction in emissions intensity from 2013 to 2016, supported by $2.1 billion invested in research and technology. Imperial is a founding member of the Oil Sands Pathways to Net Zero alliance, aiming to achieve net zero emissions in oil sands operations by 2050.