Topic: How To Invest

Dividend Advisor Hotline – Friday, August 5, 2022

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $164.33, Toronto symbol CNR, remains a buy. CN operates Canada’s largest railway. Its 32,200-kilometre network stretches across the country. It also travels down through the U.S. Midwest, connecting Canada to the Gulf of Mexico. With the March 2022 payment, CN raised its quarterly dividend by 19.1%. Investors now receive $0.7325 a share instead of $0.615. The new annual rate of $2.93 yields 1.8%. The railway increased its shipping charges in response to rising fuel costs. It also enjoyed stronger volumes of oil, coal, metals, forest products, and automotive goods, which offset lower shipments of Canadian grain. As a result, CN’s revenue in the second quarter of 2022 rose 20.7%, to $4.34 billion from $3.60 billion a year earlier. That beat the consensus forecast of $4.09 billion. Earnings before one-time items in the quarter also improved 25.8%, to $1.33 billion from $1.06 billion. The company spent $1.17 billion on share buybacks in the quarter, so earnings per share rose at a faster…

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