Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,613.46, up 37.36 points).
Bombardier Inc. (TSX:BBD.B). Industrials. Down 14 cents, or 5.65 per cent, to $2.34 on 21.2 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 11 cents, or 2.01 per cent, to $5.37 on 9.1 million shares.
Sherritt International Corp. (TSX:S). Materials. Down 10.5 cents, or 28.77 per cent, to 26 cents on 7.9 million shares.
Hexo Corp. (TSX:HEXO). Health care. Up 82 cents, or 8.49 per cent, to 10.48 on 7.6 million shares.
Encana Corp. (TSX:ECA). Energy. Down 29 cents, or 2.92 per cent, to $9.64 on 7.6 million shares.
Cenovus Energy Inc. (TSX:CVE). Down 26 cents, or 1.89 per cent, to $13.47 on 7.5 million shares.
Bombardier Inc. — Bombardier Inc. said Friday it will follow the urging of Quebec’s financial market regulator and scrap a controversial executive compensation plan. The announcement followed a review by the Autorite des marches financiers that found the plane-and-train maker’s roll-out of its Automatic Stock Disposition Plan in August did not breach securities law, but likely incurred a negative perception. Bombardier said in November, when the investigation was launched, that the plan allows some of its senior executives to sell their vested shares as an added incentive in performance-based compensation, so long as the trades are made by independent securities brokers and in line with trading parameters.
Imperial Oil Ltd. (TSX:IMO). Down 75 cents, or 1.88 per cent to $39.19. Imperial Oil Ltd. raised its dividend nearly 16 per cent to 22 cents per share despite reporting that its first-quarter profit fell compared with a year ago. The increased payment to shareholders came as Imperial reported a profit of $293 million or 38 cents per diluted share for its first quarter. That compared with a profit of $516 million or 62 cents per share in the same quarter last year. Rich Kruger, Imperial’s chairman and chief executive, says Alberta’s mandatory production curtailment order significantly affected the company’s financial performance.
Saputo Inc. (TSX:SAP). Down 14 cents to $45.66. Saputo Inc. has signed a deal to buy the specialty cheese business of Lion – Dairy & Drinks in Australia for roughly $265 million. Montreal-based Saputo says the Australian business includes two manufacturing facilities in Tasmania and employs approximately 400 people. The specialty cheese business produces, markets and distributes a variety of specialty cheeses under several Australian brands, including South Cape, Tasmanian Heritage, Mersey Valley and King Island Dairy. It generated about $182 million in revenue in 2018. It is expected to close in the second half of this year.
Sherritt International Corp. — Sherritt shares fell after the company reported disappointing earnings blamed on low cobalt prices and complications in Cuba. The Toronto-based miner reported a net loss of $61.8 million for the first quarter, compared with a net loss of $600,000 for the same quarter last year. The losses came after the company saw cobalt prices fall 70 per cent year over year. The Cuban government also paid out less of the foreign reserves it owes the company than expected.
The Canadian Press