(Source: Canadian Press, October 19, 2021)
MONTREAL — Canadian National Railway Co.’s embattled CEO is retiring in the new year, the railway says as it reported a big jump in third-quarter profits thanks in part to a $770-million after-tax break fee it received after walking away from a takeover bid for Kansas City Southern railway. CN said it earned $1.685 billion or $2.37 per diluted share for the three months ended Sept. 30, up from $1.38 per share or $985 million a year earlier. Excluding one-time items such as the break fee, adjusted earnings increased 9.5 per cent to $1.08 billion or $1.52 per share, up from $985 million or $1.38 per share in the third quarter of 2020.
Full story: Penticton Herald