Canadian Natural Resources set to spin off royalty land business

Canadian Natural Resources set to spin off royalty land business

Canadian Natural Resources set to spin off royalty land business Fourth quarter net income for Canada’s largest producer of heavy oil and natural gas almost tripled, giving earnings of $1.09 per share. The company’s better-than-expected earnings mean investors will get 23 cents per share, up from the predicted 22.5 cents. CNRL also announced that it plans to spin off or sell its royalty land business this year once energy prices stabilise. Read the full story.