CNQ vs SHEL: Which Is the Better Dividend Stock?
As of September 2026, CNQ and SHEL are closely matched. CNQ offers the higher yield at 3.55%, SHEL has the higher dividend-safety score, and SHEL trades at the larger discount to fair value (-10%).
| Metric | CNQ | SHEL |
|---|---|---|
| Forward yield | 3.55% | 3.23% |
| Annual dividend | $1.78 | $3.12 |
| Payout ratio | 43% | 33% |
| Years of growth | 10 yr | 5 yr |
| 5-yr dividend growth | 22.1% | 17.2% |
| 5-yr total return | 180% | 117% |
| Dividend safety score | 65 (C) | 74 (B) |
| Fair value estimate | $35.05 | $87.49 |
| Upside to fair value | -30% | -10% |
| Frequency | quarterly | quarterly |
| Market cap | $103.2B | $276.7B |
| P/E ratio | 12.3 | 10.7 |
Higher yield
CNQ
3.55%
Safer dividend
SHEL
Grade B
Faster growth
CNQ
22.1%
Better value
SHEL
-10% upside
CNQ vs SHEL — FAQ
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