(Source: CN press release, January 22, 2013)
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 forty-three cents (C$0.43) per common share will be paid on March 28, 2013, to shareholders of record at the close of business on March 7, 2013.
Luc Jobin, CN executive vice-president and chief financial officer, said: “We are pleased to reward our shareholders with another dividend increase, which underscores 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 17 consecutive times since the Company’s initial public offering of shares in 1995.