MONTREAL, Jan. 23, 2018 /CNW/ - CN (TSX: CNR) (NYSE: CNI)
announced today that its Board of Directors has approved a 10 per
cent increase in the 2018 dividend on the Company's common shares
outstanding.
A quarterly dividend of forty-five and a half cents (C$0.455) per common share will be paid on
March 29, 2018, to shareholders of
record at the close of business on March 8,
2018.
Ghislain Houle, CN executive vice-president and chief financial
officer, said: "CN grew faster than the economy and delivered
strong financial results in 2017. This performance supports our
long-running ability to reward shareholders with consistent
dividend growth."
CN has declared annual increases to its dividend every year
since privatization more than 20 years ago.
Forward-Looking Statements
Certain statements
included in this news release constitute "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and under Canadian
securities laws. By their nature, forward-looking statements
involve risks, uncertainties and assumptions, and are subject to
the discretion of CN's Board of Directors 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. Forward-looking statements may be
identified by the use of terminology such as "believes," "expects,"
"anticipates," "assumes," "outlook," "plans," "targets," or other
similar words.
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 or performance of
the Company to be materially different from the outlook or any
future results or performance implied by such statements.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements. Important risk factors that could
affect the forward-looking statements include, but are not limited
to, the effects of general economic and business conditions;
industry competition; inflation, currency and interest rate
fluctuations; changes in fuel prices; legislative and/or regulatory
developments; compliance with environmental laws and regulations;
actions by regulators; increases in maintenance and operating
costs; security threats; reliance on technology and related
cybersecurity risk; trade restrictions or other changes to
international trade arrangements; transportation of hazardous
materials; various events which could disrupt operations, including
natural events such as severe weather, droughts, fires, floods and
earthquakes; climate change; labor negotiations and disruptions;
environmental claims; uncertainties of investigations, proceedings
or other types of claims and litigation; risks and liabilities
arising from derailments; timing and completion of capital
programs; and other risks detailed from time to time in reports
filed by CN with securities regulators in Canada and the
United States. Reference should be made to Management's
Discussion and Analysis in CN's annual and interim reports, Annual
Information Form and Form 40-F, filed with Canadian and U.S.
securities regulators and available on CN's website, for a
description of major risk factors.
Forward-looking statements reflect information as of the date on
which they are made. CN assumes no obligation to update or revise
forward-looking statements to reflect future events, changes in
circumstances, or changes in beliefs, unless required by applicable
securities laws. In the event CN does update any forward-looking
statement, no inference should be made that CN will make additional
updates with respect to that statement, related matters, or any
other forward-looking statement.
CN is a true backbone of the economy whose team of approximately
24,000 railroaders transports more than C$250 billion worth of goods annually for a wide
range of business sectors, ranging from resource products to
manufactured products to consumer goods, across a rail network of
approximately 20,000 route-miles spanning Canada and mid-America. CN – Canadian National
Railway Company, along with its operating railway subsidiaries –
serves the cities and ports of Vancouver, Prince
Rupert, B.C., Montreal,
Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of
Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth,
Minn./Superior, Wis., and
Jackson, Miss., with connections
to all points in North America.
For more information about CN, visit the Company's website at
www.cn.ca.
SOURCE CN