04:26:48 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canadian National Railway Company
Symbol CNR
Shares Issued 809,293,872
Close 2015-01-27 C$ 85.16
Market Cap C$ 68,919,466,140
Recent Sedar Documents

Globe/wire say CN to boost its dividend by 25%

2015-01-28 06:36 ET - In the News

The Globe and Mail reports in its Wednesday, Jan. 28, edition that Canadian National Railway on Tuesday boosted its dividend by 25 per cent as fourth quarter profit rose by almost a third. A Bloomberg dispatch to The Globe reports that CN is benefiting from record full-year freight volumes with surging shipments in energy-related commodities and materials to feed the United States housing construction boom. CN says the gains will boost adjusted income this year by at least 10 per cent. MacDougall, MacDougall & MacTier analyst Robert Mark says: "CN's story has been steady, consistent, predictable earnings and dividend growth. .. We've been pretty spoiled with CN over the last few years." The wealth management firm owns CN shares. CN says it will boost its quarterly dividend to 31.25 cents a share from 25 cents. CN had been expected to set its dividend at 30 cents a share. A year ago, CN increased the payout by 16 per cent. The rail operator reported fourth quarter earnings that beat expectations. Profit rose 33 per cent to $844-million or $1.03 a share. That topped the 97-cent-average forecast. Revenue jumped 17 per cent to $3.21-billion, exceeding the $3.1-billion average forecast.

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