The Financial Post reports in its Friday, July 31, edition that the oil rout is dividing the oil sands sector, leaving some producers struggling while others thrive. The Post's Geoffrey Morgan writes that Cenovus Energy said Thursday it was cutting hundreds of oil sands job, even as Suncor Energy hinted about new acquisitions and buying back stock, following quarterly results that smashed expectations. Suncor hiked its dividend by one cent to 29 cents per share ahead of Thursday's earnings call. Cenovus, meanwhile, announced Thursday it was cutting its dividend by 40 per cent to 16 cents, after posting $126-million in net earnings in the second quarter, an 80-per-cent drop from the same period last year. Cenovus also said it had identified as many as 400 more positions that are "no longer required because of a decrease in work due to the continued low oil price environment." Cenovus said it was reviewing its benefits, perks and compensation practices in light of the now year-long oil price rout. Cenovus was not the only oil sands producer to announce staff cuts Thursday. Royal Dutch Shell's Canadian arm confirmed it has laid off 400 people this year, in addition to the 300 jobs it cut in January.