Cenovus Energy: Explosive Dividend Growth

Nov. 07, 2022 3:03 AM ETCenovus Energy Inc. (CVE), CVE:CASU, SU:CA, XLE, CVE.WS19 Comments
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Growth at a Good Price
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Summary

  • Cenovus Energy has delivered a veritable explosion of dividend growth this year, tripling its payout.
  • Over two years, the dividend has grown 400%!
  • The stock still has a relatively low yield but the miniscule 11% payout ratio suggests that there is more growth to come.
  • In this article, I make the case that CVE is a worthy stock for U.S. oil investors looking to diversify into other markets.

Construction Worker"s Portrait

sestovic/E+ via Getty Images

Cenovus Energy (NYSE:CVE) (TSX:CVE:CA) is one of many oil stocks that have done well this year. In fact, it has done better than most. Year-to-date, it's up 67%, which is about 7% better than the

CVE/XLE correlation

CVE/XLE correlation (portfoliovisualizer)

This article was written by

Growth at a Good Price profile picture
7.52K Followers
Financial journalist. Passed CFA Level 1. "Growth at a reasonable price" investor. Tech and dividend growth. Like classic value plays as well as GARP-y tech stocks. Follow me on Twitter: twitter.com/AJButton2

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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