NEW YORK (Thomson Financial) - Nexen Inc. Tuesday reported first-quarter net
income of C$630 million, or C$1.19 a share on sales of of C$1.87 billion.
The mean estimate of analysts polled by Thomson Reuters was for earnings of
C$1.01 a share. Three analysts polled forecast, on average, sales of C$2.04
billion.
In the year-earlier quarter, the company posted net income of C$121 million,
or 23 Canadian cents a share, on sales of C$1.14 billion.
Nexen said its board approved a doubling of the company's quarterly dividend
to 5 cents a share. The dividend is payable on July 1, to shareholders of record
on June 10.
Shares of the Calgary-based oil and gas company closed Monday at $36.18 on
the New York Stock Exchange.
Ryan Vlastelica
rv/jw
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