05:12 PM EST, 03/05/2025 (MT Newswires) -- Tourmaline Oil ( TRMLF ) on Wednesday said its fourth-quarter profit fell 42% on weaker natural-gas prices as it boosted its dividend and declared a special dividend.

The company, Canada's largest natural-gas producer said it earned $407.45 million, or $1.09 per share, in the period, down from $700.2 million, or $2.00, in the year-prior quarter.

Revenue slipped 2.1% to $1.62 billion from $1.66 billion, as its production rose 9% to 605,413 barrels of oil equivalent per day, while gas prices dropped 18% to 3.48 per thousand cubic feet.

The company said it is raising its quarterly dividend to to $0.50 per share from $0.35, effective for the first quarter, while declaring a special dividend of $0.35, paid March 25 to shareholders of record on March 13.

Tourmaline shares closed down $0.05 to $64.80 on the Toronto Stock Exchange.