On November 3rd, “Canadian Natural Resources declared a quarterly cash dividend on common shares of C$0.25 per share payable on January 1, 2017, increasing approximately 9% over the previous quarterly dividend. This is the sixteenth consecutive year of dividend increases since the Company first paid a dividend in 2001.” (cnrl.com)
| Before | Net Increase | After | |
| Annual Dividend | $0.92 | $0.08 | $1.00 |
| Quarterly Dividend | $0.23 | $0.02 | $0.25 |
| Average Monthly Dividend | $0.076 | $0.007 | $0.083 |
| Percentage Increase | 8.7% | ||
While my other oil & gas stocks have cut their dividends, Canadian Natural Resources came through and raised their dividend. I had just about given up on the thought but am very satisfied with the increase.
A 16 year dividend increase streak is really quite significant as a Canadian company, and even more so considering this is a company which has no control over the price of their product. I keep CNQ for the oil exposure, but have sold my shares in Pengrowth and plan to sell my shares in Whitecap Resources when I get a good chance.
Dividend Income increased 0.14%
Considering the Dividend Beginner portfolio contains 40 shares of Canadian Natural Resources, my annual income from CNQ has increased by $3.20, from $36.80 to $40.00. 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 $3.20 increase in annual dividend income seems quite low, think about how it would require an investment of $137.92, at a yield of 2.32% (CNQ’ dividend yield) to generate $3.20 in dividend income. That’s the equivalent of getting one to thirteen hours of your life back, depending on your wage.
| Before | Net Increase | After | |
| Annual Dividend Income | $2,306.44 | $3.20 | $2,309.64 |
| Monthly Dividend Income | $192.20 | $0.27 | $192.47 |
| Percentage Increase | 0.14% | ||