Suncor Energy Inc.

Suncor Energy Inc.

May 06, 2008 00:00 ET

Suncor Energy provides details of share split

Calgary, Alberta (May 5, 2008)Shareholders of Suncor Energy Inc. approved a split of the company's common shares on a two-for-one basis at the company's annual and special meeting of shareholders on April 24, 2008.

In accordance with stock exchange rules and subject to regulatory approval, Suncor's common shares will begin trading at the split-adjusted price on the Toronto Stock Exchange on May 12, 2008 and on the New York Stock Exchange on May 27, 2008.

Shareholders of record at the close of business on May 14, 2008, will keep their current share certificates. Computershare Trust Company of Canada, Suncor's transfer agent, will mail additional share certificates representing the common shares to which shareholders are entitled as a result of the share split, on May 26, 2008. This is also referred to as the "pay date".

The previously announced $0.10 quarterly dividend will also be impacted by the share split, with the amount payable on June 25, 2008 to shareholders of record at the close of business on June 4, 2008 now $0.05 per common share.

This news release contains forward-looking statements that address goals, expectations or projections about the future. These statements are based on Suncor's current goals, expectations, estimates, projections and assumptions, as well as its current budgets and plans for capital expenditures. Some of the forward-looking statements may be identified by the phrase "subject to regulatory approval" and similar expressions. These statements are not guarantees of future performance. Actual results could differ materially, as a result of factors, risks and uncertainties, known and unknown, to which Suncor's business is subject. Further discussion of the risks, uncertainties and other factors that could affect these plans, and any actual results, is included in Suncor's annual report to shareholders and other documents filed with regulatory authorities.

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout Western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

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For further information, contact:
Brad Bellows
403-269-8717