Cenovus reports record Q1 2026 upstream production and raises dividend by 10%.

Cenovus Energy announced strong Q1 2026 results with record upstream production of 972,100 BOE/d, a 19% increase year-over-year, driven by acquisitions and operational improvements. The company generated $3.4 billion in adjusted funds flow and $2.2 billion in free funds flow, enabling a 10% increase in its quarterly dividend to $0.22 per share starting Q2 2026. Cenovus also advanced key projects like Christina Lake North and West White Rose, with first oil expected in Q3 2026. The company returned $1 billion to shareholders in Q1 and is focused on debt reduction and sustainable growth.