Canadian National Railway Company (NYSE:CNI) Declares Quarterly Dividend of C$0.92

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) declared a quarterly dividend on Friday, January 30th. Shareholders of record on Tuesday, March 10th will be paid a dividend of 0.915 per share by the transportation company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a 3.1% increase from Canadian National Railway’s previous quarterly dividend of $0.89.

Canadian National Railway has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Canadian National Railway has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian National Railway to earn $6.21 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 43.2%.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $106.86 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The company has a market capitalization of $65.52 billion, a PE ratio of 19.68, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a 50 day moving average price of $102.98 and a 200-day moving average price of $98.16. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.Canadian National Railway’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 earnings per share. As a group, equities analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds have recently made changes to their positions in the stock. High Point Wealth Management LLC bought a new stake in Canadian National Railway during the fourth quarter valued at about $27,000. Addison Advisors LLC raised its holdings in Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Canadian National Railway during the third quarter valued at about $28,000. First Horizon Corp bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at about $30,000. Finally, Costello Asset Management INC boosted its holdings in shares of Canadian National Railway by 83.3% in the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after buying an additional 150 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.