August 3, 2011 / 10:04 PM / 7 years ago

UPDATE 1-Keyera Q2 profit dips 8 pct

Aug 3 (Reuters) - Canadian natural gas company Keyera Corp posted a lower quarterly profit on weak natural gas prices.

The net profit fell to C$33.1 million ($34.3 million), or 47 Canadian cents per share, compared with C$36.3 million, or 54 Canadian cents per share, a year ago.

The company raised its quarterly dividend by 7 percent to 48 Canadian cents per share, compared with last year.

Excess supply in North America led to weak natural gas prices NGc1, which averaged $4.38 per million British thermal units (mmBtu) during April-June, up just about 3 percent from last year.

Keyera said it expects 2011 growth capital investment, excluding acquisitions, of C$100-C$130 million.

Shares of the Calgary-based company closed at C$42.84 on Tuesday on the Toronto Stock Exchange.

$1 = 0.965 Canadian Dollars Reporting by Maneesha Tiwari in Bangalore

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