CN Boosts Dividend Amid Fourth-Quarter Profit and Revenue Surge
Canadian National Railway Company (CN) has announced an increase in its quarterly dividend, coinciding with significant growth in its fourth-quarter profit and revenue.
Dividend Increase and Financial Results
Shareholders will now receive a dividend of 91.5 cents per share, up from the previous rate of 88.75 cents per share. This adjustment reflects CN’s positive financial performance over the past year.
Fourth-Quarter Financial Highlights
- Profit: CN reported a fourth-quarter profit of $1.25 billion.
- Earnings per Share: The profits translate to $2.03 per diluted share, an increase from $1.15 billion or $1.82 per diluted share for the same period in 2022.
- Revenue: The company’s total revenue for the quarter was $4.46 billion, a slight rise from $4.36 billion year-over-year.
- Adjusted Earnings: On an adjusted basis, CN’s earnings were $2.08 per diluted share, up from $1.82 per diluted share last year.
- Operating Ratio: The operating ratio improved to 61.2% from 62.6% in the prior year, indicating enhanced efficiency and profitability.
These results demonstrate CN’s robust operational framework and its commitment to rewarding shareholders through increased dividends. The railway’s financial growth indicates a strong market position as it continues to optimize its performance.
