On Thursday,
March 6th the Board of Directors of Canadian Natural Resources
Limited (CNQ) announced
a quarterly dividend increase of from C$0.5625 to C$0.5875 per share
that’s payable April 4, 2025 to holders of record March 21, 2025.
This represents a 4.4% increase over the last quarterly dividend. It
should be noted that this is the second increase in the last 12
months. In December 2024, CNQ increased quarterly dividend from
C$0.525 to C$0.5625 or 7.14%, bringing the annual increase to 11.9%.
The Company has a leading track record
of dividend increases, with 2025 being the 25th consecutive year of
dividend increases with a compound annual growth
rate (“CAGR”) of 21% over that time.
At the current price of C$42.04 (yesterday’s close), this increase will raise CNQ’s dividend yield to
5.59%.
Canadian Natural is a member of
Canadian Dividend All Star List with a 25 year streak of dividend
increases. Dividend growth rates for 1, 3, 5 and 10 years are 15.5,
28.9, 23.3 and 16.9 (Canadian
Dividend All-Star List)
As an owner of 350 shares of Canadian
Natural, the recent dividend increase adds $18.24 to my projected
annual net dividend income.
The increase was a surprise to me, I
didn’t expect it to happen so soon after the December increase.
This recent dividend increase marks the
second consecutive raise I’ve received from Canadian Natural since
I acquired my first shares in September 2024. Over this period,CNQ’s
quarterly dividend has grown nicely from C$0.525 to C$0.5875 per
share, reflecting a 11.9% increase.
The moment of writing, CNQ’s weight
of my portfolio is about 1.25% and its share of future annual
dividend income is approximately 1.71%.
Following this increase, my yield on
cost is 5.21%.
Summary of 2025 Dividend Increases /
Cuts
Click here
to see my portfolio holdings.
You can follow the development of my
dividends here.
Full Disclosure: Long CNQ
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