Topic: How To Invest

Dividend Advisor Hotline – Friday, February 4, 2022

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $156.04, Toronto symbol CNR, is 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. The company is rewarding investors with a 19.1% dividend increase. With the March 2022 payment, investors will receive $0.7325 a share instead of $0.615. The new annual rate of $2.93 yields 1.9%. CN also plans to buy back up to 6.8% of its outstanding shares not held by insiders. Meantime, the company has settled its dispute with U.K.-based activist investor TCI Fund Management Ltd., which owns 5.2% of the company’s shares. As a result, CN will appoint two independent members to its board of directors, including Jean Charest, the former premier of Quebec. As well, Tracy Robinson will become the company’s new CEO replacing Jean-Jacques Ruest. Ms. Robinson has nearly 30 years of railway experience as an executive at CP Rail. Meantime, CN’s revenue in the fourth quarter…