MONTREAL, Jan. 24, 2017 /PRNewswire/ – CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 10 per cent increase in the Company’s quarterly cash dividend. With this increase, CN’s dividend on an annualized basis is C$1.65 per common share.
Ghislain Houle, CN executive vice-president and chief financial officer, said: “CN delivered strong results through challenging economic conditions in 2016. This performance reflects our resilience and supports our long-running ability to reward shareholders with consistent dividend growth.”
A quarterly dividend of forty-one-and-one-quarter cents (C$0.4125) per common share will be paid on March 31, 2017, to shareholders of record at the close of business on March 10, 2017.
CN has declared annual increases to its dividend every year since its first dividend declaration in 1996.
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions, and are subject to the discretion of CN’s Board of Directors in respect of the declaration of dividends. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.
Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of the Company to be materially different from the outlook or any future results or performance implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements include, but are not limited to, the effects of general economic and business conditions; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; security threats; reliance on technology; trade restrictions; transportation of hazardous materials; various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; and other risks detailed from time to