(All financial figures are in Canadian dollars unless otherwise noted.)
CALGARY, Feb. 27 /CNW/ - Suncor Energy Inc. today announced plans to
implement a two-for-one share split of its issued and outstanding common
shares. The decision, which has been approved by the company's Board of
Directors, is subject to shareholder and regulatory approval.
Since May 2002, when Suncor shares previously split on a two-for-one
share basis, the trading price of the company's common shares on the TSX has
risen from $27.75 to highs of over $109 in 2007. The company had previously
completed two-for-one share splits in 1997 and 2000.
Shareholder approval will be sought at Suncor's annual meeting, scheduled
for April 24, 2008 in Calgary, Alberta. Subject to approval, the record date
for the share split will be May 14, 2008.
Suncor Energy Inc. is an integrated energy company headquartered in
Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray,
Alberta, extracts and upgrades oil sands and markets refinery feedstock and
diesel fuel, while operations throughout western Canada produce natural gas.
Suncor operates a refining and marketing business in Ontario with retail
distribution under the Sunoco brand. U.S.A. downstream assets include pipeline
and refining operations in Colorado and Wyoming and retail sales in the Denver
area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips
66(R) brand and marks in the state of Colorado. Sunoco in Canada is separate
and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc.
For further information:
For further information: Investor inquiries: John Rogers, (403)
269-8670; Media inquiries: Brad Bellows, (403) 269-8717