SASKATOON — Cameco Corp. raised its annual dividend as it reported its fourth-quarter profit and revenue fell compared with a year ago.
The uranium miner says it will now pay an annual dividend of 12 cents per share, up from eight cents per share.
The increased payment to shareholders came as Cameco reported a profit of $11 million or three cents per diluted share for the quarter ended Dec. 31 compared with a profit of $80 million or 20 cents per diluted share a year earlier.
Revenue for the quarter was $465 million, down from $550 million in the fourth quarter of 2020.
On an adjusted basis, Cameco says it earned six cents per diluted share, down from an adjusted profit of 12 cents per diluted share a year earlier.
In its outlook for this year, Cameco says it expects revenue for 2022 between $1.5 billion and $1.65 billion. Capital expenditures for the year are estimated between $150 million and $175 million.
This report by The Canadian Press was first published Feb. 9, 2022.
Companies in this story: (TSX:CCO)
The Canadian Press
