Canadian National Railway Company (NYSE:CNI – Get Free Report) (TSE:CNR) declared a quarterly dividend on Friday, July 24th. Stockholders of record on Tuesday, September 8th will be paid a dividend of 0.915 per share by the transportation company on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 8th.
Canadian National Railway has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. Canadian National Railway has a dividend payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Canadian National Railway to earn $6.31 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 42.3%.
Canadian National Railway Stock Performance
Shares of NYSE CNI opened at $129.53 on Friday. The stock has a market cap of $78.50 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 2.49 and a beta of 0.96. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Canadian National Railway has a 1-year low of $90.74 and a 1-year high of $131.55. The stock’s 50-day moving average is $120.15 and its 200 day moving average is $110.64.
Hedge Funds Weigh In On Canadian National Railway
Several hedge funds and other institutional investors have recently modified their holdings of the company. Minot DeBlois Advisors LLC boosted its holdings in shares of Canadian National Railway by 2.0% during the fourth quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock worth $507,000 after purchasing an additional 103 shares during the period. Smartleaf Asset Management LLC raised its position in Canadian National Railway by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock valued at $63,000 after purchasing an additional 103 shares during the last quarter. Tacita Capital Inc grew its position in shares of Canadian National Railway by 0.6% in the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock worth $1,960,000 after buying an additional 109 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its position in shares of Canadian National Railway by 1.5% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock worth $715,000 after buying an additional 110 shares during the last quarter. Finally, Patten Group Inc. increased its stake in shares of Canadian National Railway by 1.4% during the fourth quarter. Patten Group Inc. now owns 8,326 shares of the transportation company’s stock valued at $823,000 after buying an additional 114 shares during the period. 80.74% of the stock is owned by institutional investors.
About Canadian National Railway
Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.
CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.
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