30 Growing Dividend Stocks with Low PE Ratios

10. Canadian Natural Resources Limited (NYSE:CNQ)

Forward P/E Ratio as of April 22: 12.74

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and gas company, headquartered in Canada. The energy company benefits from a strong asset base, featuring a well-balanced production mix and long-lasting, low-decline resources that underpin its reliable dividend payouts. These assets enable the company to maintain steady cash flow and operational adaptability, even amid volatile commodity markets. Additionally, increased output from its zero-decline, high-value synthetic crude operations supports stable cash generation and helps keep reserve replacement costs down.

Canadian Natural Resources Limited (NYSE:CNQ) continued to demonstrate financial strength, producing more than $3.4 billion in operating cash flow in the most recent quarter, up from $3 billion a year earlier. By the end of fiscal 2024, the company had generated $4.5 billion in free cash flow. This robust cash performance allowed CNQ to return $1.7 billion to its shareholders through a mix of dividends and share repurchases.

In March, Canadian Natural Resources Limited (NYSE:CNQ) raised its quarterly dividend by 4.4% to C$0.5875 per share, marking its 25th consecutive year of dividend growth. CNQ is one of the best growing dividend stocks with a P/E ratio of 12.74. The stock offers a dividend yield of 5.59%, as of April 22.