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Daily Headlines
Canadian Pacific schedules annual meeting of shareholders for May 17, 2012
(Source: Canadian Pacific Railway press release, January 24, 2012) CALGARY, Alberta — Canadian Pacific today announced that it received a letter from Pershing Square including a requisition for a meeting of shareholders for the purpose of electing five Pershing Square...
Ackman to Indemnify Harrison as Canadian National takes him to court
(Source: Bloomberg News, January 24, 2012) NEW YORK — Investor William Ackman said he will shield Hunter Harrison, his choice to run Canadian Pacific Railway, against a possible loss of benefits after the retired executive’s former employer, CN, suspended pension and...
CN suspends Hunter Harrison’s pension payments
(Source: Globe and Mail, January 24, 2012) TORONTO — Canadian National Railway Co. has suspended Hunter Harrison’s pension payments, alleging that the former chief executive officer has breached provisions of his retirement deal and poses a serious threat to CN if he...
LIRR no longer largest commuter railroad
(Source: Associated Press, January 23, 2012) NEW YORK — The Long Island Rail Road has steadily been losing riders and is no longer the nation's largest commuter railway. That distinction now goes to Metro-North Railroad. In 2011, LIRR's ridership dropped to 81 million...
CN Rail beats estimates, hikes dividend
(Source: Financial Post, January 24, 2012) OTTAWA — Canadian National Railway Co. hiked its dividend Tuesday after its fourth quarter earnings blew past expectations and it presented a rosy outlook for the year ahead. Canada' largest railway reported adjusted net...
CN announces 15 per cent increase in quarterly cash dividend
(Source: CN press release, January 24, 2012) MONTREAL — CN announced today that its Board of Directors has approved a 15 per cent increase in the Company's quarterly cash dividend. A quarterly dividend of thirty-seven-and-one-half cents (C$0.375) per common share will...
KCS Board of Directors declares quarterly preferred dividend, establishes annual meeting date
(Source: Kansas City Southern press release, January 23, 2012) KANSAS CITY, Mo. — Kansas City Southern’s Board of Directors declared a regular quarterly dividend of 25 cents per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on...
Kansas City Southern says 4Q profit up 85 percent
(Source: Associated Press, January 23, 2012) KANSAS CITY, Mo. — Kansas City Southern railroad said Monday that its fourth-quarter profit rose 85 percent to $95.6 million as increases in automotive and intermodal shipments offset rising fuel and executive compensation...
CSX names new Chief Operating Officer and Chief Financial Officer
(Source: CSX press release, January 23, 2012) JACKSONVILLE, Fla. — CSX Corporation today announced the appointments of Oscar Munoz as executive vice president and chief operating officer and Fredrik J. Eliasson as executive vice president and chief financial officer,...
CSX posts increase in 4Q profit on higher freight prices
(Source: Associated Press, January 23, 2012) JACKSONVILLE, Fla. — Freight railroad operator CSX Corp. said Monday that fourth-quarter profit rose 6 percent as higher rates offset a decline in the volume of goods it shipped. Full story: Washington Post
