Imperial Oil Q2 Profit Declines On Dartmouth Refinery Charge

(RTTNews) - Imperial Oil Ltd.'s (IMO, IMO.TO) second-quarter 2013 net income was $327 million, down from $635 million for the second quarter of 2012. Second quarter 2013 earnings included a non-cash charge of $264 million associated with the conversion of the Dartmouth refinery to a terminal. Net income per common share was $0.38, down from $0.75 per share in the second quarter of 2012.

Gross oil-equivalent production averaged 276,000 barrels a day, up 7,000 barrels a day and refinery throughput averaged 435,000 barrels a day, up 51,000 barrels a day from the same period last year, respectively

Total revenues and other income for the quarter were $7.958 billion, compared to $7.515 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share and revenues of $8.83 billion. Analysts' estimates typically exclude special items.

Imperial Oil Limited declared a quarterly dividend of $0.12 per share on the outstanding common shares of the company, payable on October 1, 2013 , to shareholders of record at the close of business on September 4, 2013.