Canadian Natural Resources Limited
CNQEnergy · Stock · quarterly payer
Forward Yield
3.50%
Annual Dividend
$1.78
Payout Ratio
43%
5-Yr Growth
22.1%
Ex-Date
Sep 11, 2026
Frequency
Quarterly
Summary
As of September 2026, Canadian Natural Resources Limited (CNQ) yields 3.50% ($1.78 per share annually), with a blended fair-value estimate of $34.96 — -30% downside, so it screens as overvalued. Dividend safety grade: B (74/100). 10 years of dividend growth.
Is CNQ a good dividend stock?
Yes, with caveatsCanadian Natural Resources Limited (CNQ) pays a quarterly dividend yielding 3.50% ($1.78/yr), with 10 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.
Advantages
- 10 consecutive years of dividend growth
- Comfortable payout ratio (43%)
- Strong 22.1% 5-yr dividend growth
- 180% total price return over 5 years
Risks
- Cut its dividend in 2015
Key Data
- Dividend Yield
- 3.50%
- Payout Ratio
- 43%
- Annual Dividend
- $1.78
- 5-Yr Avg Growth
- 22.1%
- Ex-Dividend Date
- Sep 11, 2026
- Years of Growth
- 10
- Frequency
- quarterly
- Beta
- 0.88
- Market Cap
- $103.2B
- P/E Ratio
- 12.5
- 5-Yr Total Return
- 180%
- 52-Week Range
- $29.68 – $52.31
- Dividend Safety
- B · 74/100
- Ever Cut?
- Yes (2015)
Frequently Asked Questions
CNQ Price — Last 12 Months
Daily close
Price Return
1 Year
+57%
3 Years
+55%
5 Years
+180%
52-Week Range
$29.68 – $52.31
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CNQ worth?
Overvaluedhigh confidenceOur blended fair-value estimate for Canadian Natural Resources Limited is $34.96 per share, versus a market price of $50.07. That implies 30% of downside.
Fair Value
$34.96
Current Price
$50.07
Downside
-30%
Margin of Safety
-43%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 0.4% annual free-cash-flow growth. We model -2.0% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.7% discount rate (CAPM), -2.0% stage-1 growth, 2.5% terminal growth, $4.02 EPS, $1.78 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CNQ Dividend Safety Score
Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 11, 2026 | — | $0.4520 | regular |
| Jun 23, 2026 | — | $0.4420 | regular |
| Mar 20, 2026 | — | $0.4550 | regular |
| Jun 13, 2025 | — | $0.4320 | regular |
| Mar 21, 2025 | — | $0.4100 | regular |
| Dec 13, 2024 | — | $0.3900 | regular |
| Sep 13, 2024 | — | $0.3870 | regular |
| Jun 17, 2024 | — | $0.3820 | regular |
| Mar 14, 2024 | — | $0.3900 | regular |
| Dec 7, 2023 | — | $0.3680 | regular |
| Sep 14, 2023 | — | $0.3320 | regular |
| Jun 15, 2023 | — | $0.3380 | regular |
| Mar 16, 2023 | — | $0.3270 | regular |
| Dec 15, 2022 | — | $0.3140 | regular |
Income Calculator
At $1.78 / yr per share
