Canadian Natural Resources Limited (CNQ) to Issue Quarterly Dividend of C$0.59 on January 6th

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Friday, December 12th will be paid a dividend of 0.5875 per share by the oil and gas producer on Tuesday, January 6th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, December 12th. This is a 37.6% increase from Canadian Natural Resources’s previous quarterly dividend of $0.43.

Canadian Natural Resources has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 24 years. Canadian Natural Resources has a payout ratio of 69.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Canadian Natural Resources to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 67.7%.

Canadian Natural Resources Trading Down 1.0%

Canadian Natural Resources stock opened at $33.72 on Wednesday. Canadian Natural Resources has a 12-month low of $24.65 and a 12-month high of $35.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53. The stock has a market capitalization of $70.24 billion, a PE ratio of 14.92 and a beta of 0.70. The firm has a 50 day simple moving average of $32.35 and a 200-day simple moving average of $31.81.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.During the same quarter in the previous year, the company earned $0.97 earnings per share. As a group, equities research analysts expect that Canadian Natural Resources will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).