(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 be paid on March 30, 2012, to shareholders of record at the close of business on March 9, 2012.
Luc Jobin, CN executive vice-president and chief financial officer, said: “We are rewarding our shareholders with another dividend increase, which demonstrates our confidence in CN’s growth prospects and capacity to generate solid free cash flow consistently throughout business cycles.”
Including today’s announcement, CN has declared increases in its cash dividend 16 consecutive times since the Company’s initial public offering of shares in 1995.