Tuesday, January 24, 2012

CN Dividend Increase

MONTREAL, Jan. 24, 2012 /PRNewswire/ - CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 15 per cent increase in the Company's quarterly cash dividend. A quarterly dividend of thirty-seven-and-one-half cents (C$0.375) per common share will be paid on March 30, 2012, to shareholders of record at the close of business on March 9, 2012. 

Luc Jobin, CN executive vice-president and chief financial officer, said: "We are rewarding our shareholders with another dividend increase, which demonstrates our confidence in CN's growth prospects and capacity to generate solid free cash flow consistently throughout business cycles."

This is the 16th consecutive dividend increase for CN since its IPO in 1995. One thing I like about railroads is that they perform well no matter what shape the economy is in. With a dividend expense ratio of 25%, CN's dividend will likely keep on chugging for years to come. Here's a look at CN's dividend history since 1996.

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