Canadian Natural Resources Ltd dividend history

Canadian Natural Resources Ltd paid $3.49bn in dividends in fiscal 2025. That was 45.0% of net income.

Dividends, buybacks and capital spending

FY2025 Q4 TTM

Buybacks (TTM): $1B
Dividends (TTM): $3.5B
Returned to shareholders: 110%; of free cash flow
Buybacks, last 3 fiscal years: $5.4B
Diluted share count: −2.0%; year over year
Total shareholder yield: 4.0%; dividends 3.1% + buybacks 0.9% of market value
Dividend payout ratio: 45%; of net income paid out

Dividends by fiscal year

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Canadian Natural Resources Ltd: dividends by fiscal year, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Dividends paid	980	573	965	1,206	1,314	1,454	1,732	3,789	2,884	3,234	3,487
Share buybacks	—	0	0	990	709	202	1,262	4,285	2,459	1,942	1,037
Dividends ÷ net income	—	—	52.2%	60.3%	32.2%	—	28.3%	45.0%	47.3%	72.5%	45.0%
Dividends ÷ free cash flow	243.4%	—	46.6%	26.3%	19.7%	41.4%	15.0%	25.4%	31.5%	33.1%	32.2%

Dividend per share is the amount declared for the fiscal year as stated in the company's filings (including any special dividend), restated for stock splits and checked against the cash dividends paid. Dividends paid and buybacks are cash amounts; the last-twelve-months column can include an extra payment when a quarter-end date moves.

Compare with peers

Head to head: CNQ vs EOG CNQ vs CVE CNQ vs SU CNQ vs DVN

More: Oil & Gas Exploration & Production stocks compared, Energy sector, rankings of US companies

Figures from Canadian Natural Resources Ltd's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Canadian Natural Resources Ltd.