Canadian National Railway (NYSE:CNI) Raises Dividend to $0.62 Per Share

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Monday, March 10th will be given a dividend of 0.6159 per share by the transportation company on Monday, March 31st. This represents a $2.46 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61.

Canadian National Railway has raised its dividend payment by an average of 10.9% annually over the last three years. Canadian National Railway has a dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian National Railway to earn $5.72 per share next year, which means the company should continue to be able to cover its $2.35 annual dividend with an expected future payout ratio of 41.1%.

Canadian National Railway Price Performance

Shares of NYSE:CNI traded down $0.62 during midday trading on Friday, hitting $104.58. 2,311,544 shares of the stock were exchanged, compared to its average volume of 1,330,649. The stock has a market cap of $65.77 billion, a P/E ratio of 16.76, a PEG ratio of 2.41 and a beta of 0.91. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Canadian National Railway has a twelve month low of $98.96 and a twelve month high of $134.02. The company has a 50 day moving average price of $104.62 and a 200-day moving average price of $111.08.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. On average, research analysts forecast that Canadian National Railway will post 5.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CNI shares. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. Stephens reaffirmed an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Finally, TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.19.

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Canadian National Railway Company Profile

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Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.

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Dividend History for Canadian National Railway (NYSE:CNI)

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