Canadian National Railway Company (CNI) to Distribute Quarterly Dividend of C$0.92 on September 29th

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, September 8th will be given a dividend of 0.915 per share by the transportation company on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 8th.

Canadian National Railway has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. Canadian National Railway has a dividend payout ratio of 41.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian National Railway to earn $6.40 per share next year, which means the company should continue to be able to cover its $2.59 annual dividend with an expected future payout ratio of 40.5%.

Canadian National Railway Stock Performance

Shares of CNI opened at $123.42 on Friday. The firm has a fifty day moving average of $125.73 and a 200-day moving average of $116.17. The company has a market cap of $74.69 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway has a 1 year low of $90.74 and a 1 year high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS. As a group, equities analysts anticipate that Canadian National Railway will post 5.82 earnings per share for the current year.

Institutional Trading of Canadian National Railway

Institutional investors have recently made changes to their positions in the stock. FIL Ltd lifted its position in Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock worth $1,557,309,000 after purchasing an additional 5,210,403 shares during the period. Caisse de depot et placement du Quebec raised its stake in shares of Canadian National Railway by 1.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock worth $1,310,600,000 after buying an additional 157,000 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Canadian National Railway by 2.0% in the 1st quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company’s stock worth $934,488,000 after buying an additional 173,894 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Canadian National Railway by 15.1% in the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after buying an additional 1,182,106 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Canadian National Railway by 3.1% in the fourth quarter. Mackenzie Financial Corp now owns 8,894,923 shares of the transportation company’s stock valued at $882,039,000 after buying an additional 268,776 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.