MONTREAL, Jan. 30, 2014 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI)
announced today that its Board of Directors has approved a 16 per cent
increase in the Company's cash dividend. With this increase, the
Company's dividend on an annualized basis is C$1.00 per common share.
A quarterly dividend of twenty-five cents (C$0.25) per common share will
be paid on March 31, 2014, to shareholders of record at the close of
business on March 10, 2014.
Luc Jobin, CN executive vice-president and chief financial officer,
said: "In keeping with our track record since CN's initial public
offering of shares in 1995, we are pleased to raise our dividend for
the 18th consecutive year. This 16 per cent dividend increase reflects our
confidence in the growth prospects of the Company and our commitment to
reward shareholders."
CN has increased its dividend per share by 16 per cent per year on
average since its privatization.
Forward-Looking Statements
Certain information included in this news release constitutes
"forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and under Canadian
securities laws. CN cautions that, by their nature, these
forward-looking statements involve risks, uncertainties and assumptions
and are subject to our board's discretion 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. Such 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 or the rail industry to be materially
different from the outlook or any future results or performance implied
by such statements.
Important risk factors that could affect the above 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, various
events which could disrupt operations, including natural events such as
severe weather, droughts, floods and earthquakes, labor negotiations
and disruptions, environmental claims, uncertainties of investigations,
proceedings or other types of claims and litigation, risks and
liabilities arising from derailments, and other risks and assumptions
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, available on CN's website, for a summary of
major risks and assumptions.
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 Canadian 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, transporting approximately 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 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
on CN, visit the company's website at www.cn.ca.
SOURCE CN