Cameco profits plunge to $7 million amid declining earnings

Cameco Corporation, a major uranium mining firm, announced its financial results for the third quarter. The company reported a profit of $7 million, a significant drop from the previous year's profit of $148 million. In this period, Cameco increased its annual dividend from 12 cents to 16 cents per share, a move that reflects the company's commitment to returning value to shareholders despite the profit decline. Additionally, Cameco's revenue for the quarter rose to $721 million, compared to $575 million in the same quarter a year prior. The CEO, Tim Gitzel, indicated plans to recommend to the board further dividend growth, potentially reaching 24 cents per share over the next few years, depending on yearly evaluations.