20 Best Dividend Growth Stocks with High Yields

8. Canadian Natural Resources Limited (NYSE:CNQ)

Dividend Yield as of May 13: 5.53%

Canadian Natural Resources Limited (NYSE:CNQ) is a major crude oil and natural gas producer, with active operations across several core areas such as Western Canada, the UK North Sea, and offshore regions in Africa. The company’s broad and varied asset base has helped it maintain strong performance even amid fluctuating commodity prices.

As the sole or majority owner of most of its projects, Canadian Natural Resources Limited (NYSE:CNQ) benefits from the ability to reallocate capital efficiently across its portfolio to capitalize on favorable market conditions. The company also maintains a solid balance sheet, and its scale provides the financial strength to pursue major strategic acquisitions when opportunities emerge during downturns in the energy industry.

In the first quarter of 2025, Canadian Natural Resources Limited (NYSE:CNQ) posted revenue of $47.6 billion, down 2.2% from the same period last year. The revenue also missed analysts’ estimates by $783.3 million. The company reported record production levels, reaching about 1,582,000 barrels of oil equivalent per day. This included a record 1,174,000 barrels per day of liquids, with 79% coming from long-life, low-decline assets, along with record natural gas production of 2,451 million cubic feet per day.

Canadian Natural Resources Limited (NYSE:CNQ)’s cash position remained strong with an operating cash flow of $4.3 billion, up from $2.8 billion in the prior-year period. Year-to-date, the company returned $2.4 billion through dividends. Currently, it offers a quarterly dividend of C$0.5875 per share and has a dividend yield of 5.53%, as of May 13. It has been growing its payouts for 25 consecutive years, which makes CNQ one of the best dividend stocks on our list.