Cenovus Energy reports $1.6B first-quarter profit, triples dividend

Cenovus Energy Inc. tripled its dividend as it reported a first-quarter profit of $1.6 billion. The company says its base dividend will increase to 42 cents per share from 14 cents a year and will continue to be declared and paid quarterly.  Cenovus says it will also return cash to shareholders though share buybacks and or variable dividends depending on its excess free funds and the level of its debt. The increased payments to shareholders came as the company said it earned 81 cents per sh