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CN celebrates 20 years of transformational change at 2016 annual meeting of shareholders
CN celebrates 20 years of transformational change at 2016 annual meeting of shareholders ...
About this update from Canadian National Railway Company
[{"type":"text","content":"\n\n\n\nCN celebrates 20 years of transformational change at 2016 annual meeting of shareholders\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 celebrates 20 years of transformational change at 2016 annual meeting of shareholders\nCanada NewsWire\nMONTREAL, April 26, 2016\n\n\n\nMONTREAL, April 26, 2016 /CNW/ - Claude Mongeau, president and chief executive officer of CN (TSX: CNR) (NYSE: CNI), said today the company has made huge strides since its 1995 initial public share offering (IPO), transforming itself into a North American railway and true backbone of the economy.\n\n\"CN's journey since its IPO is the story of a remarkable and uniquely successful business transformation,\" Mongeau told the company's annual meeting of shareholders here. \n\nOnce an industry laggard based largely in Canada, CN today is the clear North American rail industry leader. Following five successful acquisitions, the company now efficiently spans eight Canadian provinces and 16 U.S. states, transporting more than C$250 billion worth of goods annually over a 20,000-route-mile network that reaches all three coasts on the continent.\n\nMongeau said core financial measures attest to CN's superior record of efficiency, profitability and shareholder value-creation since the IPO:\n\n\nThe railway's operating ratio – a key measure of efficiency – in 2015 improved to a record 58.2 per cent from 89.4 per cent in 1994, the year before privatization, and has consistently been the best in the industry since 1998.\nCN has generated almost 20 per cent average annual growth in adjusted diluted earnings per share since becoming a publicly-traded company. \nFrom an initial value of C$2 billion in 1995, CN's market capitalization has increased several fold to stand at C$63 billion currently. Close to C$70 billion of capital gains and dividend distributions have been generated since the IPO for the benefit of loyal investors who rely on CN for the effective stewardship of their stock ownership.\n\nThe privatization of CN 20 years ago was a pivotal policy decision by the Canadian government th...