On Thursday, January 30th the Board of Directors of Canadian National Railway Company (TSE:CNR) announced a quarterly dividend increase of from C$0.845 to C$0.8875 per share that’s payable March 31, 2025 to holders of record March 10, 2025. This represents a 5.03% increase over the last quarterly dividend.
“We are confident in CN’s resilience and financial strength throughout business cycles and are pleased to continue to uphold our track record of enhancing shareholder returns through share repurchases and uninterrupted dividend growth. Including today’s announcement, CN has declared increases in its cash dividend 29 consecutive times.”
- Ghislain Houle, Executive Vice-President and Chief Financial Officer, CN
In addition, CNR has approved the repurchase of its shares under a new normal course issuer bid (Bid). The Bid permits CN to purchase, for cancellation, over a 12-month period up to 20 million common shares, representing 3.18% of the 628,224,299 common shares issued and outstanding of the Company on January 23, 2025.
At the current price of C$151.82 (yesterday's close), this increase will raise CNR's dividend yield to 2.34%.