CNQ vs CVX: Which Is the Better Dividend Stock?
As of September 2026, CNQ (Canadian Natural Resources Limited) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. CNQ offers the higher yield at 3.50%, CVX has the higher dividend-safety score, and CNQ trades at the larger discount to fair value (-30%).
| Metric | CNQ | CVX |
|---|---|---|
| Forward yield | 3.50% | 3.35% |
| Annual dividend | $1.78 | $7.12 |
| Payout ratio | 43% | 67% |
| Years of growth | 10 yr | 38 yr |
| 5-yr dividend growth | 22.1% | 5.8% |
| 5-yr total return | 180% | 111% |
| Dividend safety score | 74 (B) | 95 (A) |
| Fair value estimate | $34.96 | $118.21 |
| Upside to fair value | -30% | -45% |
| Frequency | quarterly | quarterly |
| Market cap | $103.2B | $419.9B |
| P/E ratio | 12.5 | 20.5 |
Higher yield
CNQ
3.50%
Safer dividend
CVX
Grade A
Faster growth
CNQ
22.1%
Better value
CNQ
-30% upside
CNQ vs CVX — FAQ
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