Canadian Natural Resources Limited (NYSE:CNQ) Shareholders to Get C$0.62 Quarterly Dividend

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, December 15th will be given a dividend of C$0.62 per share by the oil and gas producer on Tuesday, January 5th. This represents a $2.50 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, December 15th.

Canadian Natural Resources has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 24 years. Canadian Natural Resources has a dividend payout ratio of 74.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Canadian Natural Resources to earn $4.00 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 45.0%.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded down $0.71 during mid-day trading on Thursday, hitting $48.93. 10,389,622 shares of the company were exchanged, compared to its average volume of 8,905,493. The company has a market capitalization of $100.12 billion, a PE ratio of 12.08 and a beta of 0.45. The business has a fifty day moving average of $50.86 and a 200 day moving average of $46.13. Canadian Natural Resources has a 1-year low of $30.13 and a 1-year high of $56.27. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 5th. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $1.05 by $0.13. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. As a group, sell-side analysts expect that Canadian Natural Resources will post 4.10 earnings per share for the current year.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.