FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the month of: November, 2019 |
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Commission File Number: 1-12384 |
SUNCOR ENERGY INC.
(Name of registrant)
150 6th Avenue S.W.
P.O. Box 2844
Calgary, Alberta
Canada, T2P 3E3
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F |
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Form 40-F |
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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SUNCOR ENERGY INC. | |
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Date: |
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By: |
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November 14, 2019 |
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Shawn Poirier |
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Shawn Poirier |
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Assistant Corporate Secretary |
News Release dated November 13, 2019, Suncor Energy declares dividend and announces increase to share repurchase program
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News Release |
FOR IMMEDIATE RELEASE
All financial figures are in Canadian dollars.
Suncor Energy declares dividend and announces increase to share repurchase program
Calgary, Alberta (November 13, 2019) Suncor Energys Board of Directors has approved a quarterly dividend of $0.42 per share on its common shares, payable December 24, 2019 to shareholders of record at the close of business on December 3, 2019.
Suncors Board of Directors has also approved an increase to the companys current share repurchase program of an additional $500 million increasing the program from $2.0 billion to $2.5 billion. Suncor will continue to be opportunistic in its execution of the program and, should market conditions allow, Suncor expects to repurchase between $2.0 and $2.5 billion of common shares by the end of February 2020. As of Friday November 8, 2019, Suncor has completed repurchases of $1.74 billion, or approximately 42.7 million shares under the Board approved program, representing approximately 2.8% of total shares outstanding.
Since recommencing the share repurchase program in May of 2017, Suncor has repurchased approximately $6.6 billion or 149.3 million shares for approximately 8.9% of total shares outstanding at that time.
Legal Advisory Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as forward-looking statements) within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements in this news release include references to: that Suncor will continue to be opportunistic in its execution of its share repurchase program; the expectation that Suncor will repurchase between $2.0 and $2.5 billion of common shares by the end of February 2020; and the additional share repurchase program of up to $500 million. Forward-looking statements may be identified by words like will, expects, future and similar expressions.
Forward-looking statements are based on Suncors current expectations, estimates, projections and assumptions that were made by the company in light of its information available at the time the statement was made and consider Suncors experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves and resources estimates; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the execution of projects; and the receipt, in a timely manner, of regulatory and third party approvals.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Suncors actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Suncors most recently filed quarterly Report to Shareholders, its Annual Information Form, Form 40-F and Annual Report to Shareholders, each dated February 28, 2019, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that
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Suncor Energy |
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150 6 Avenue S.W. Calgary, Alberta T2P 3E3 |
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suncor.com |
could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3; by email request to invest@suncor.com; by calling 1-800-558-9071; or by referring to suncor.com/FinancialReports or to the companys profile on SEDAR at sedar.com or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Suncor Energy is Canadas leading integrated energy company. Suncors operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncors common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
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For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @Suncor or together.suncor.com
Media inquiries:
833-296-4570
media@suncor.com
Investor inquiries:
800-558-9071
invest@suncor.com