CALGARY _
Canadian Natural Resources Ltd. (
TSX: T.CNQ,
Stock Forum) is hiking its quarterly dividend by 60 per cent.
The Calgary-based oil and gas producer says the increased dividend, which rises to 20 cents per share on Jan. 1, is a reflection of CNQ's confidence in its future performance.
Canadian Natural also announced it expects to increase annual cash flow by 14 per cent in 2014 to $8.7 billion,
the company said in a press release.
Canadian Natural shares rose 0.31% to $32.59, leaving a market cap of $35.4 billion, based on over one billion shares outstanding. The 52-week range is $34.63 and $26.88.