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1 Magnificent Canadian Dividend Stock Down 39% to Buy and Hold for Decades

The article from MSN Money discusses the investment potential of Canadian Natural Resources (CNQ), a prominent Canadian energy company, which has experienced a significant decline in its stock price, down 39% from its peak. Despite this drop, the article highlights CNQ's attractiveness as a long-term investment due to several factors. Firstly, CNQ has a robust history of increasing its dividend, with a 21% compound annual growth rate over the last 23 years, making it a compelling choice for dividend investors. The company's diversified asset base, including both natural gas and oil, provides stability and growth potential. Moreover, CNQ's strategic focus on reducing debt and enhancing shareholder returns through dividends and share buybacks is emphasized. The article suggests that despite short-term volatility in energy prices, CNQ's strong operational performance, commitment to environmental, social, and governance (ESG) principles, and its ability to generate significant free cash flow make it a "magnificent" stock to buy and hold for decades, especially at its current discounted price.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/economy/1-magnificent-canadian-dividend-stock-down-39-to-buy-and-hold-for-decades/ar-AA1xQvXs ]