Dividend Challengers 2025: Top 25

9. EOG Resources, Inc. (NYSE:EOG)

Dividend Yield as of April 29: 3.45%

EOG Resources, Inc. (NYSE:EOG) is a Texas-based energy company that is engaged in the exploration of hydrocarbons. While the company does hold assets in Australia and the Caribbean, the bulk of EOG’s oil production comes from its US operations, particularly in the Rocky Mountains, the Permian Basin, and South Texas. Its significant inventory of undeveloped resources is expected to support ongoing production in the future.

One of the most attractive features of EOG Resources, Inc. (NYSE:EOG) is its strong and well-managed balance sheet. In the first quarter of 2025, the company posted an operating cash flow of $2.2 billion. It ended the quarter with $6.6 billion available in cash and cash equivalents, compared with $5.3 billion in the prior-year period. In addition, it generated $1.3 billion in free cash flow, which also showed growth from $1.2 billion in Q1 2024.

EOG Resources, Inc. (NYSE:EOG) reported cash operating costs of $10.31 per barrel of oil equivalent per day (boe/d) and total production of 1,090 thousand boe/d. In the first quarter of 2025, the company spent approximately $800 million on share buybacks, returning 98% of its available free cash flow to shareholders. For the year, management trimmed its capital spending budget by $200 million, bringing it down to $6 billion.

On May 1, EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend of $0.975 per share, which was in line with its previous dividend. Overall, the company has been raising its payouts for nine consecutive years. In addition, it also has a history of paying special dividends to shareholders, which makes EOG one of the best dividend stocks on our dividend challengers list. The stock supports a dividend yield of 3.45%, as of April 29.