CNQ vs SHEL: Which Is the Better Dividend Stock?
As of September 2026, CNQ (Canadian Natural Resources Limited) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. CNQ offers the higher yield at 3.50%, CNQ has the higher dividend-safety score, and SHEL trades at the larger discount to fair value (-9%).
| Metric | CNQ | SHEL |
|---|---|---|
| Forward yield | 3.50% | 3.26% |
| Annual dividend | $1.78 | $3.12 |
| Payout ratio | 43% | 33% |
| Years of growth | 10 yr | 5 yr |
| 5-yr dividend growth | 22.1% | 17.2% |
| 5-yr total return | 180% | 117% |
| Dividend safety score | 74 (B) | 74 (B) |
| Fair value estimate | $34.96 | $87.65 |
| Upside to fair value | -30% | -9% |
| Frequency | quarterly | quarterly |
| Market cap | $103.2B | $276.7B |
| P/E ratio | 12.5 | 10.6 |
Higher yield
CNQ
3.50%
Safer dividend
CNQ
Grade B
Faster growth
CNQ
22.1%
Better value
SHEL
-9% upside
CNQ vs SHEL — FAQ
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