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Canadian Natural Resources Stock Tops 3 Dividend Powerhouses Worth A Closer Look

Simply Wall St · 2d ago

Dividend Powerhouses are drawing fresh attention as central banks keep interest rates under close review, energy driven inflation stays in focus and both housing and consumer data send mixed signals across major economies. Reliable income is a priority for many investors when mortgage costs, credit card borrowing and energy bills all demand more cash each month. The Dividend Powerhouses (3%+ Yield) screener focuses on companies with yields above 5% that appear well covered, growing and stable. In this article you will see three stocks from this screener that stand out for further research.

Canadian Natural Resources (TSX:CNQ)

Overview: Canadian Natural Resources is a large Calgary based oil and gas producer that acquires, develops and operates assets across Western Canada, the North Sea and Offshore Africa, selling crude oil, natural gas and natural gas liquids into global markets. It produces a wide mix of products, including synthetic crude from oil sands mining, conventional and heavy crude, thermal bitumen and NGLs, supported by midstream assets such as pipeline systems and a cogeneration plant.

Operations: Canadian Natural Resources generates most of its revenue from Exploration and Production in North America at about CA$19.1b and Oil Sands Mining and Upgrading at about CA$17.4b, with smaller contributions from Midstream and Refining at CA$0.8b, the North Sea segment at CA$0.2b and various adjustments and eliminations.

Market Cap: CA$129.9b

Investors looking at dividend powerhouses may find Canadian Natural Resources interesting because it combines a 3.83% yield with strong profitability, including net margins of 25.1% and return on equity of 21.8%. The company has been using acquisitions, cost efficiencies and higher utilization in its oil sands operations to support cash flow, while ongoing share buybacks and potential benefits from new export pipelines and LNG capacity could influence future capital returns. At the same time, reliance on oil sands, environmental regulation, pipeline capacity limits and the global energy transition all create meaningful long term risks that could affect earnings and valuation. The full narrative describes how these moving parts fit together and what analysts are currently building into their forecasts.

Canadian Natural Resources combines a 3.83% dividend yield with robust profitability that many investors may be underestimating. Before assuming the story is simple, review the 4 key rewards and 2 important warning signs (1 is major!).

TSX:CNQ Earnings & Revenue Growth as at Jul 2026
TSX:CNQ Earnings & Revenue Growth as at Jul 2026

Manulife Financial (TSX:MFC)

Overview: Manulife Financial is a large Toronto based financial services group that sells insurance, annuities and banking products, while also running a sizeable wealth and asset management business that serves retail, retirement and institutional clients across North America and Asia.

Operations: Manulife generates most of its revenue from Global Wealth and Asset Management at about CA$7.1b, with additional contributions from Asia at CA$4.5b, Canada at CA$3.3b, Corporate and Other at CA$0.8b and the U.S. segment at CA$0.4b.

Market Cap: CA$105.1b

Manulife Financial pairs a 3.14% dividend with earnings that grew 26% over the past year, while still trading at a large discount to one estimate of fair value. That combination of income, earnings growth and apparent value is supported by high quality earnings and a growing global wealth and asset management franchise. The franchise is being reshaped by a push into AI tools and a new Global Chief AI Officer. At the same time, investors need to weigh funding that relies on higher risk external borrowing, significant recent insider selling and an executive team with relatively short tenure. The full story explains how these pieces fit together and what that could mean for investors.

Manulife Financial’s earnings growth and global wealth engine are starting to decouple from how the stock is priced. Before that gap closes, review the full 4 key rewards and 1 important warning sign

MFC Discounted Cash Flow as at Jul 2026
MFC Discounted Cash Flow as at Jul 2026

IGM Financial (TSX:IGM)

Overview: IGM Financial is a Winnipeg based wealth and asset manager that runs mutual funds, ETFs and other investment products for Canadian households and institutions, distributed through financial advisors, dealers and third party platforms. It also offers selected insurance and banking products, and sits within the broader Power Financial group.

Operations: IGM Financial generates about CA$1.4b from Asset Management and CA$2.8b from Wealth Management, with the CA$4.4b total almost entirely coming from Canada.

Market Cap: CA$19.6b

IGM Financial stands out in the Dividend Powerhouses screener because it combines a 3.03% yield with a sizeable wealth and asset management platform that reported record CA$343.3b of assets under management and advisement in June 2026 and positive net inflows. The company is integrating AI exposure through the Sagard AI Fund and partnerships such as Wealthsimple, while also reshaping its product mix with ETF and quant funds. At the same time, heavy reliance on traditional Canadian mutual funds, mounting fee pressure and higher risk external funding are important watchpoints. For investors who want income with exposure to long term wealth management trends and AI linked initiatives, this balance of strengths and risks may make IGM Financial worth a closer look.

IGM Financial’s record CA$343.3b platform and growing AI exposure could be masking a very different risk reward profile than most investors assume. Before sentiment catches up, review the 4 key rewards and 1 important warning sign

TSX:IGM Earnings & Revenue Growth as at Jul 2026
TSX:IGM Earnings & Revenue Growth as at Jul 2026

The three Dividend Powerhouses in this article are just a starting point, since the full screen surfaced 8 more companies with equally compelling income stories and risk reward narratives through the Dividend Powerhouses (3%+ Yield) screener. Use Simply Wall St to identify, analyze and filter for the specific catalysts, dividend coverage and business narratives that matter most so you can focus on your highest conviction ideas.

Take Control of Your Investment Journey

If Canadian Natural Resources or any of these companies have caught your attention, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value and track any new developments as they happen. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Fresh Alternatives Beyond Dividends

Some of the sharpest breakouts start quietly, while momentum builds and fresh ideas stay under the radar for now. Avoid reacting late by focusing on opportunities earlier in their development.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.