Canadian Natural Resources

CNQ Comes Through with Another 9% Dividend Raise

Dividend Raises

On March 2nd, “Canadian Natural Resources Limited announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.275”. (cnrl.com)

This dividend payment compares to the previous quarter’s C$0.25 (paid in January), where it was also increased 8.7%. The quarterly distribution before that was C$0.23, paid in October 2016.

Canadian Natural Resources effectively increased their dividend by 16.4% in back-to-back dividend increases.

CNQ has increased their dividend for 16 consecutive years and I originally bought this name for it’s impressive dividend growth history – they have not let me down. It is my favourite Canadian stock for exposure to the oil exploration industry.

Dividend Income increased 0.16%

Considering the Dividend Beginner portfolio contains 40 shares of Canadian Natural Resources, my annual income from CNQ has increased by $4.00, from $40.00 to $44.00. My 12-month forward dividend income has increased from $2,306.44 to $2,309.64, an increase of 0.14%. My income from CNQ accounts for 1.73% of my annual dividend income.

While a $4.00 increase in annual dividend income seems quite low, think about how it would require an investment of $178, at a yield of 2.25% (CNQ’ dividend yield on the day of the raise) to generate $4.00 in dividend income. That’s the equivalent of getting one to sixteen hours of your life back, depending on your wage.

Before Net Increase After
Annual Dividend Income $2,552.11 $4.00
$2,556.11
Monthly Dividend Income $212.68 $0.33
$213.01
Percentage Increase 0.16%

Dividend Beginner

A 22 year old Canadian dividend growth investor striving for early financial independence; building as many passive income streams as early as possible.
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