Suncor

Hi there,

I own Suncor but admittedly, it has underperformed. The dividend was actually cut at the beginning of the pandemic which left the markets with a very sour taste. The move was suprising because many others in the industry like IMO and CNQ did not cut the dividend. It is why Suncor has underperformed the industry in a big way over the past year.

I'm neutral on Suncor right now - but do think it has some upside here because it hasn't recovered as much as its peers. Once again, likely a result of it being in the penalty box because of that dividend cut. WIth oil prices on the rebound and the economy opening up, it is well positioned for short-to-mid term gains.

Is the dividend safe? It looked safe before and was still cut. I am pretty sure that the company has no plans to cut again and it should be safe, but it lost a lot of credibility last year. IMO, CNQ is the best-in-class and the most reliable in terms of dividend safety.

Mat