CALGARY, April 27, 2018 /CNW/ – Imperial announced at its annual meeting of shareholders held on April 27, 2018, that each of the seven nominees proposed as directors of the company and listed in its management proxy circular dated March 9, 2018 were elected as directors. A total of 750,099,433 shares (90.58 percent of outstanding common shares) were represented in person or by proxy. The percentage of shares represented at the meeting that were voted to elect the individual directors are set out below:

Nominee:

For:

Withheld:

D.W. (David) Cornhill

99.84%

0.16%

K.T. (Krystyna) Hoeg

99.67%

0.33%

R.M. … Continue Reading

CALGARY, April 27, 2018 /CNW/ – Imperial Oil Limited today declared a quarterly dividend of 19 cents per share on the outstanding common shares of the company, payable on July 1, 2018, to shareholders of record at the close of business on June 1, 2018.

This second quarter 2018 dividend compares with the first quarter 2018 dividend of 16 cents per share.

Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the petroleum industry.  The company has paid dividends every year for over a century and has … Continue Reading

CALGARY, April 27, 2018 /CNW/ – Imperial Oil Limited today announced it has received final acceptance from the Toronto Stock Exchange to amend its normal course issuer bid (NCIB) to increase the number of common shares that it may repurchase.

Under the amendment, the number of common shares that may be repurchased will increase from up to three percent to up to five percent of its 846,530,905 outstanding common shares as of June 13, 2017, or a maximum of 42,326,545 shares during the 12-month period from June 27, 2017 to June 26, 2018. This amended maximum will … Continue Reading

CALGARY, April 27, 2018 /CNW/ –

$1 billion of cash generated from operations; nearly $400 million returned to shareholders

Quarterly dividend raised nearly 20 percent; share buyback program increased

Strong downstream and chemical earnings driven by operational reliability and market conditions

Canadian upstream business environment impacting industry competitiveness and financial performance

First quarter

millions of Canadian dollars, unless noted

2018

2017

%

Net Income (U.S. GAAP)

516

333

55

Net Income per common share

0.62

0.39

59

– assuming dilution (dollars)

Capital and exploration expenditures

274

153

79

 

Estimated net income in the first quarter of 2018 was $516 … Continue Reading

CALGARY, March 7, 2018 /CNW/ – Imperial has made significant progress towards resolving a potential fuel quality issue in aviation gasoline (sometimes referred to as “avgas” or “100 low lead”) shipped from Strathcona refinery since Dec. 28, 2017.

Imperial has identified all locations that received potentially off-spec product and has completed close to all of the testing at those sites. At this point, approximately 70% of the sites tested have been confirmed as fit-for-use.

We have also been working around the clock to secure alternative supplies from across North America. These efforts have been successful and we … Continue Reading

D.E. Lyons to succeed B.A. Babcock effective May 1, 2018

B.A. Babcock to retire as senior vice-president, finance & administration & controller, Imperial Oil Limited

CALGARY, Feb. 15, 2018 /CNW/ – Imperial Oil Limited announced today the appointment of D.E. (Dan) Lyons as senior vice-president, finance & administration & controller effective May 1, 2018.

Mr. Lyons, currently vice-president of downstream business services and downstream treasurer at Exxon Mobil Corporation, succeeds Ms. B.A. (Beverley) Babcock, who has announced her intention to retire after 31 years of service.

Mr. Lyons joined ExxonMobil in 1990 after serving with … Continue Reading

CALGARY, Feb. 15, 2018 /CNW/ – Imperial has notified regulators and customers of a potential fuel quality issue in aviation gasoline (sometimes referred to as “avgas” or “100 low lead”) shipped from Strathcona refinery since Dec. 28, 2017. 

The primary concern is that the product quality issue may cause interference with on-board fuel gauge sensors of aircraft using avgas.

All shipments of the avgas from Strathcona refinery were promptly stopped as soon as the company became aware of the issue on Feb. 13, 2018. Imperial has also requested that all distributors cease distribution of the product.

At … Continue Reading

Full-year earnings of $490 million; $1,056 million excluding upstream non-cash impairment charges

Progressing work to increase Kearl annual average gross production to 240,000 barrels per day

Returned more than $1.1 billion to shareholders through share purchases and dividends

CALGARY, Feb. 2, 2018 /CNW/ –

Fourth quarter

Twelve months

millions of Canadian dollars, unless noted

2017

2016

%

2017

2016

%

Net income (loss) (U.S. GAAP)

(137)

1,444

(109)

490

2,165

(77)

Net income (loss) per common share

(0.16)

1.70

(109)

0.58

2.55

(77)

– assuming dilution (dollars)

Capital and exploration expenditures

216

213

1

671

1,161

(42)

 

Estimated … Continue Reading

CALGARY, Feb. 2, 2018 /CNW/ – Imperial Oil Limited today declared a quarterly dividend of 16 cents per share on the outstanding common shares of the company, payable on April 1, 2018, to shareholders of record at the close of business on March 2, 2018.

This first quarter 2018 dividend compares with the fourth quarter 2017 dividend of 16 cents per share.

Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the petroleum industry. The company has paid dividends every year for over a century and has … Continue Reading

CALGARY, Nov. 29, 2017 /CNW/ – Imperial Oil Limited is pleased to announce the appointment of David W. Cornhill to Imperial’s board.

Mr. Cornhill is currently the chairman of the board and founder of AltaGas Ltd. Mr. Cornhill founded AltaGas on April 1, 1994 and served as chairman of the board and chief executive officer until April 15, 2016. Mr. Cornhill has over 35 years of experience with leading energy and energy infrastructure companies, and more than 25 years in C-suite positions.

Mr. Cornhill is an experienced leader in the business community and is a strong supporter of … Continue Reading

CALGARY, Oct. 27, 2017 /CNW/ – Imperial Oil Limited today declared a quarterly dividend of  16 cents per share on the outstanding common shares of the company, payable on January 1, 2018, to shareholders of record at the close of business on December 1, 2017.

This fourth quarter 2017 dividend compares with the third quarter 2017 dividend of 16 cents per share.

Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the petroleum industry.  The company has paid dividends every year for over a century and has … Continue Reading