Dividend payments are set on a quarterly basis by the Board of Directors in the context of current and expected crude oil prices, economic conditions, Syncrude’s operating performance, and the Corporation’s capacity to finance operating and investing obligations. Dividend levels are established with the intent of absorbing short-term market volatility over several quarters. Dividend levels also recognize our intention to fund the current major projects primarily with cash flow from operations and existing cash balances, while maintaining a strong balance sheet to reduce exposure to potential oil price declines, capital cost increases, or major operational upsets.
Please note that COS has currently suspended its dividend reinvestment program (DRIP). If the DRIP is reinstated, this will be announced via press release.