The Financial Post reports in its Friday, Nov. 3, edition that Canadian Natural Resources announced the retirement of president Tim McKay next year as it raised its quarterly dividend and reported a third quarter profit of $2.34-billion, down from $2.81-billion a year ago. A Canadian Press dispatch to the Post reports that Canadian Natural says Mr. McKay will assume the role of vice-chairman on Feb. 28, 2024, when Scott Stauth, currently chief operating officer of oil sands, will be promoted to president. As vice-chairman, Mr. McKay is expected to help with the management transition until his retirement in the summer. The announcement came as company said it will now pay a quarterly dividend of $1 a share, up from 90 cents. Canadian Natural reported its profit amounted to $2.13 a diluted share for the quarter ended Sept. 30, down from $2.49 a diluted share a year earlier. Revenue for the quarter totalled $9.9-billion, down from $10.46-billion in the same quarter last year. On an adjusted basis, the company says it earned $2.59 per diluted share in its most recent quarter, down from $3.09 a diluted share a year ago. Analysts on average had expected an adjusted profit of $2.39 a share and $9.55-billion in revenue.