Suncor’s (SU -2.2%) 54% dividend hike not only topped expectations for a 30%-40% increase, it...

|About: Suncor Energy Inc. (SU)|By:, SA News Editor

Suncor’s (SU -2.2%) 54% dividend hike not only topped expectations for a 30%-40% increase, it has the Street convinced more is coming. SU is the only major Canadian energy producer to generate free cash flow this year, which allows it to commit to competitive dividend increases, Canaccord notes; CIBC sees SU as a "free cash flow machine," producing $2.8B of FCF in 2012 with another $1B-$2B forecast for this year.