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Financings

Cenovus Energy announces redemption of Series 1 & 2 Preferred Shares

By The Northwire Desk — AI Analysis Feb 26, 2026 · 06:00 CVE · 30.01 CENOVUS ENERGY INC.
CVE · Price

Executive Summary

  • Cenovus Energy Inc. will redeem all outstanding 2.577% Series 1 and 3.948% Series 2 preferred shares on March 31, 2026 at $25.00 per share, totaling approximately $300 million.
  • The Board has declared final quarterly dividends of $0.16106 (Series 1) and $0.24337 (Series 2) per share, payable on the same date.
  • Redemption will be funded primarily from cash on hand, representing a material cash outflow but no change to operating performance.

Key Details

  • Redemption Terms: All Series 1 & 2 preferred shares outstanding are to be redeemed at $25.00 per share.
  • Aggregate Redemption Amount: Approximately $300 million (subject to required withholdings).
  • Funding Source: Primarily cash on hand; no new financing is being undertaken.
  • Dividend Declaration: Quarterly dividends of $0.16106 (Series 1) and $0.24337 (Series 2) per share, payable March 31, 2026 to shareholders of record as of March 13, 2026.
  • Final Dividends: These will be the last dividend payments for both series of preferred shares.
  • Contact Information for Holders: Registered holders should contact Computershare Investor Services Inc.; beneficial holders should coordinate with their broker or intermediary.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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