Suncor (TSX: SU) (NYSE: SU) Energy's Board of Directors has approved a quarterly dividend of $0.52 per common share representing an 11% increase over the prior quarter dividend.

Sustained operational improvements across the asset base, realization of free funds flow improvements together with continued capital discipline and share buybacks have driven stronger free funds flow per share. The Board of Directors' confidence in sustained improving operating performance and the strengthening financial position supports increasing the quarterly dividend as part of our commitment to increasing shareholder returns.

This dividend will be payable December 23, 2022 to shareholders of record at the close of business on December 2, 2022.