10 Safe Dividend Stocks with Yields Above 5%

8. Canadian Natural Resources Limited (NYSE:CNQ)

Dividend Yield as of April 20: 5.69%

Canadian Natural Resources Limited (NYSE:CNQ) is a Canadian oil and natural gas company, having operations in Western Canada, the UK portion of the North Sea, and Offshore Africa. Analysts believe that the company is well-positioned to benefit from shifts in global oil demand and supply, thanks to its vast reserves and diversified asset base. However, its long-term performance will largely depend on external influences like trade policies and environmental regulations.

The year 2024 marked a significant milestone for Canadian Natural Resources Limited (NYSE:CNQ), as it reached a record-high average production of more than 1.36 million barrels of oil equivalent per day. This included its highest-ever annual liquids output, which topped one million barrels daily. Financially, the company outperformed expectations, posting adjusted earnings of C$2.34 per share in the fourth quarter, beating analyst forecasts of C$2.15.

Canadian Natural Resources Limited (NYSE:CNQ) also maintained a solid financial position. It generated over $3.4 billion in operating cash flow during the latest quarter, up from $3 billion previously, and ended fiscal 2024 with $4.5 billion in free cash flow. This strong cash generation enabled the company to return $1.7 billion to shareholders via dividends and stock buybacks.

In March, Canadian Natural Resources Limited (NYSE:CNQ) hiked its quarterly dividend by 4.4% to C$0.5875 per share. Through this increase, the company stretched its dividend growth streak to 25 years, which places it on our list of the best safe dividend stocks with yields above 5%. As of April 20, the stock has a dividend yield of 5.69%.