(Energy Analytics Institute, 7.Oct.2024) — The Board of Directors of Canadian Natural Resources Limited (CNRL) agreed to increase the quarterly cash dividend by 7% to $0.5625 per common share, up compared to the previous quarterly cash dividend of $0.525 per common share, CNRL said 7 Oct. 2024 in an official statement.
The dividend will be payable on 3 Jan. 2025 to shareholders of record at the close of business on 13 Dec. 2024. This will make 2025 the 25th consecutive year of dividend increases by CNRLl, with a CAGR of 21% over that time, the Calgary-based company said in the statement.
The dividend increase comes in conjunction with the acquisition of Chevron Canada Limited‘s Alberta assets and as a result of Canadian Natural’s significant free cash flow, including targeted additional free cash flow generation from the acquired assets and the company’s strong financial position, CNRL said.
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