9,300% Dividend Growth Since 2001: Is This $39 Stock the Answer to Income Investors' Prayers?
Key Points
Since 2001, this oil and gas company has raised its dividend every year by 21% on average.
It looks well-positioned to maintain that pace in 2026 even if an expected energy supply glut hits markets.
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There's a saying on Wall Street: "Dividends don't lie." Just about every financial metric can be fudged or spun by management, but the dividends either arrive in a brokerage account, or they don't. Since 2000, the S&P 500 companies have grown their payouts by 376%, or an average of 4.76% each year.
That's kept ahead of the 92% inflation seen in that time frame. Still, after over 25 years, it's nothing to write home about. Thankfully, some companies have offered income growth that's orders of magnitude greater. Coming in near the top of the list is Calgary-based oil and gas firm Canadian Natural Resources (NYSE: CNQ).
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6,900% dividend growth in 25 years
In 2001, Canadian Natural Resources began paying a dividend of $0.00625 per share, with the payout tripling within five years. By 2011, its dividend had grown by 620% since 2001's payouts, and by 2021, its dividend had mushroomed 553% from 2011's levels. Today, its quarterly payouts are up exactly 100% from those of five years ago.
Image source: Getty Images.
Since 2001, not only has the company raised its dividend every year, but it's done so by an average of 21% each year. All told, its dividend has grown 9,300% since 2001. Of the hundreds of income stocks I've analyzed over the years, I've never seen a company like this.
Can the streak continue?
Canadian Natural Resources generated an operating cash flow of $14.8 billion last year, which easily covers the $3.6 billion needed to pay its current dividend. In fact, the company could grow its payouts by another 21% in 2026, and still have over $10 billion in operating cash flow left over.
An expected energy glut could put pressure on earnings, but the company can be profitable as long as oil prices are above $21 per barrel (thanks to its industry-leading operating costs). And even if growth slows, the company's current dividend yield of 4.3% is almost quadruple the S&P 500 average. For investors seeking fast-growing, dependable income, Canadian Natural Resources is a top candidate.
Should you buy stock in Canadian Natural Resources right now?
Before you buy stock in Canadian Natural Resources, consider this:
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William Dahl has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Canadian Natural Resources. The Motley Fool has a disclosure policy.
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