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Canadian Natural Resources Increases Dividend by 11%

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.47 (forty-seven cents) per common share. The dividend will be payable on April 5, 2021 to shareholders of record at the close of business on March 19, 2021.

From CNQ’s recent Q4 2020 earnings announcement:

“The sustainability of our free cash flow generation provides the Board of Directors confidence to increase our dividend by 11% to $1.88 per share annually, marking the 21st consecutive year of dividend increases representing a CAGR of 20% since inception. The 2021 capital budget of approximately $3.2 billion drives targeted annual production growth of approximately 61,000 BOE/d, at the mid-point of our production range, from 2020 levels and robust free cash flow generation. At the current 2021 annual strip pricing of approximately US$57 WTI per barrel, the Company targets to generate significant annual free cash flow of approximately $4.9 billion to $5.4 billion, after our capital program and increased dividend. As a result, our balance sheet is targeted to strengthen further in 2021, with year end debt to adjusted EBITDA targeted to improve to approximately 1.2x and debt to book capitalization targeted to improve to approximately 29%, at the mid-point of the targeted free cash flow range. Subsequent to year end, in March 2021 the Board of Directors authorized management, subject to acceptance by the TSX, to repurchase shares under a Normal Course Issuer Bid (“NCIB”), equal to options exercised throughout the coming year, in order to eliminate dilution for shareholders. Our strong financial position, unique long life low decline asset base and effective and efficient operations continue to generate long-term shareholder value.”

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Income Investing

S&P/TSX 60 Constituent Dividend Yields

I updated the data to March 4, 2021. The table includes forward dividend yield, p/e ratios, ex dividend dates, price to book and price to sales for all S&P/TSX 60 constituents.

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Income Investing

30 Canadian Stocks That Raised Dividends in 2021

The relentless drum beat of quarterly dividend payments continues for many Canadian companies. Despite the challenging economic climate, many Canadian companies have actually increased dividends so far this year (2021). Many by a substantial amount.

Check out these 30 Canadian companies that have raised dividends so far in 2021 (as of the end of February):

Aecon Group (TSX:ARE) increased their quarterly dividend by $0.015, now up to $0.175/share. This represents a 9% increase. (Source)

ECN Capital (TSX:ECN) increases annual dividend from $0.10 to $0.12. (Source)

CCL Industries (TSX:CCL.B) increased their quarterly dividend from $0.18 to $0.21/share, up by 16.7%. (Source)

Quebecor (TSX:QBR.B) announced a 38% increase to its quarterly dividend, from $0.20 to $0.275/share. (Source)

Maple Leaf Foods Inc. (TSX: MFI) bumped up its quarterly dividend from $0.16 to $0.18/share, an increase of 12.5%. (Source)

Guardian Capital Group Limited (TSX: GCG; GCG.A) increases dividend by 13%. (Source)

Alamos Gold (TSX:AGI) increases dividend by 25% to $0.025 USD per quarter. (Source)

Stantec (TSX:STN) raised annualized dividend raised by 6.5%. (Source)

DREAM Unlimited Corp (TSX:DRM) increases quarterly dividend from $0.24 to $0.28 per annum. (Source)

Thomson Reuters (TSX: TRI) increased their annual dividend by $0.10, now up to $1.62 (US$). (Source)

Magna International (TSX:MG) bumped their quarterly dividend from $0.40 to $0.43/share, an 8% increase. (Source)

Newmont Corp (TSX:NGT) increases dividend by 38%. (Source)

TC Energy (TSX:TRP) increased their quarterly dividend by 7.4%, from $0.81 to $0.87/share. (Source)

Nutrien Ltd (TSX:NTR) increases dividend by 2% from $0.45 to $0.46 USD per quarter. (Source)

A&W Revenue Royalties Income Fund (TSE : AW.UN) monthly distribution rate will be increased from 10¢ per unit to 13.5¢ per unit beginning with the February distribution payable in March. (Source)

Brookfield Asset Management (TSX: BAM.A) bumped their quarterly dividend up to $0.13 (US$)/share, up by 8%. (Source)

Andrew Peller Limited (TSX:ADW.A) increases quarterly dividend by 5%. (Source)

FirstService (TSX:FSV) Declares 11% Increase to Quarterly Cash Dividend from $0.165 USD to $0.1825 USD per quarter. (Source)

Brookfield Renewable increases 5%. (Source)

BCE Inc. (TSX: BCE) announced a $0.17/share increase to its annual dividend, now sitting at $3.50 – a 5.1% increase. (Source)

Canaccord Genuity Group Inc (TSX:CF) increases dividend by 18% from $0.055 to $0.065 per quarter (Source)

Brookfield Infrastructure Partners (TSX: BIP.UN, BIPC) raises quarterly dividend by 5%. (Source)

Exco Technologies Ltd (TSX:XTC) Quarterly Dividend raised by 5.3%. (Source)

CN Railway (TSX: CNR) approved a quarterly dividend of $0.615/share, an increase of 7%. (Source)

Metro (TSE: MRU) bumped up its quarterly dividend from $0.225 to $0.25, an increase of 11.1%. (Source)

Richelieu Hardware (TSX:RCH ) increases Dividend by 4.9% to $0.07 for the first quarter of 2021 and payment of a special dividend of $0.0667. (Source)

ATCO Ltd (TSX:ACO.X) increases dividend by 3%. (Source)

Algoma Central Corporation (TSX: ALC), announced a quarterly dividend of $0.17/share. This represents a 31% increase from the previous quarter.

Urbana Corporation (TSX:URB) Increases Dividend By 12.5%. (Source)