(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 earnings of $581 million, or $1.30 a share, during the quarter ended Dec. 31, 2011, up nearly 16% from the $503 million, or $1.08 a share, it earned last year during the quarter. Analysts had been expecting earnings of $1.25 a share, according to Bloomberg estimates. CN said also it had its best ever quarterly sales of nearly $2.4 billion, up 12% year over year, on the back of a 4% increase in carloads.
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