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CN announces 20 per cent increase in quarterly cash dividend
CN announces 20 per cent increase in quarterly cash dividend CN announces 20 per c...
About this update from Canadian National Railway Company
[{"type":"text","content":"\n\n\n\nCN announces 20 per cent increase in quarterly cash dividend\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCN announces 20 per cent increase in quarterly cash dividend\nCanada NewsWire\nMONTREAL, Jan. 26, 2016\n\n\n\nMONTREAL, Jan. 26, 2016 /CNW/ - CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 20 per cent increase in the Company's quarterly cash dividend. With this increase, CN's dividend on an annualized basis is C$1.50 per common share. \n\nLuc Jobin, CN executive vice-president and chief financial officer, said: \"We are pleased to uphold our track record of consistently returning cash to shareholders. This dividend increase is testimony to our confidence in the strong cash flow generation capacity of CN throughout business cycles, and reaffirms our objective of gradually increasing the dividend payout ratio toward 35 per cent.\"\n\nA quarterly dividend of thirty-seven-and-one-half cents (C$0.375) per common share will be paid on March 31, 2016, to shareholders of record at the close of business on March 10, 2016.\n\nIncluding today's announcement, CN has declared annual increases to its dividend 20 consecutive times, averaging 17 per cent per year, since its initial public offering of shares in 1995.\n\nForward-Looking Statements Certain information included in this news release constitutes \"forward-looking statements\" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions and are subject to our board's discretion in respect of the declaration of dividends. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results o...