Canadian Natural Resources Limited Announces Quarterly Dividend

Rhea-AI Summary

Canadian Natural Resources (CNQ) announced a quarterly dividend increase of 5% to $1.05 per common share, demonstrating confidence in its business model, strong balance sheet, and diverse asset base. The dividend will be payable on July 5, 2024, to shareholders of record on June 17, 2024. This marks the 24th consecutive year of dividend increases for the company.

Positive

• Canadian Natural Resources (CNQ) increased its quarterly dividend by 5% to $1.05 per common share, showcasing confidence in its business model and strong balance sheet.

• The company's diverse, long-life low decline reserves and asset base contribute to the sustainability of its business model.

• The announcement marks the 24th consecutive year of dividend increases for Canadian Natural Resources (CNQ).

Negative

• None.

Calgary, Alberta--(Newsfile Corp. - May 2, 2024) - Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) announces that its Board of Directors has declared a quarterly cash dividend on its common shares of $1.05 (one dollar and five cents) per common share on a pre-stock split basis or $0.525 (fifty-two and one half cents) per common share after giving effect to the two for one stock split of the common shares, subject to approval at the Company's Annual and Special Meeting of Shareholders on May 2, 2024. The dividend will be payable on July 5, 2024 to shareholders of record at the close of business on June 17, 2024.

As previously announced on February 29, 2024, the Board of Directors increased the quarterly dividend by 5% to $1.05 per common share. This demonstrates the confidence that the Board of Directors has in the sustainability of our business model, our strong balance sheet and the strength of our diverse, long life low decline reserves and asset base. The Company's leading track record of dividend increases continues, with 2024 being the 24^th consecutive year of dividend increases with a compound annual growth rate ("CAGR") of 21% over that time.

Canadian Natural is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa.

CANADIAN NATURAL RESOURCES LIMITED
T (403) 517-6700 F (403) 517-7350 E ir@cnrl.com
2100, 855 - 2 Street S.W. Calgary, Alberta, T2P 4J8
www.cnrl.com

 

SCOTT G. STAUTH
President

MARK A. STAINTHORPE
Chief Financial Officer

LANCE J. CASSON
Manager, Investor Relations

Trading Symbol - CNQ
Toronto Stock Exchange
New York Stock Exchange

Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Refer to our website for complete forward-looking statements. www.cnrl.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207722

FAQ

What is the quarterly cash dividend declared by Canadian Natural Resources ?

Canadian Natural Resources (CNQ) announced a quarterly cash dividend of $1.05 per common share.

When will the dividend be payable to shareholders?

The dividend will be payable on July 5, 2024.

What is the record date for shareholders to receive the dividend?

Shareholders of record at the close of business on June 17, 2024, will be eligible to receive the dividend.

How many consecutive years has Canadian Natural Resources increased its dividend?

2024 marks the 24th consecutive year of dividend increases for Canadian Natural Resources (CNQ).