Topic: How To Invest

Dividend Advisor Hotline – Friday, October 29, 2021

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $164.48, 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 2021 payment, the company increased your quarterly dividend by 7.0%. Investors receive $0.615 a share instead of $0.575. The new annual rate of $2.46 yields 1.5%. The company is seeing lower volumes for grain (due to dry weather in Western Canada) and automotive products (due to delayed shipments of new cars). But thanks to higher volumes of coal, oil, metals, forest products and intermodal containers, CN’s revenue in the third quarter of 2021 rose 5.3%, to $3.59 billion from $3.41 billion a year earlier. However, that missed the consensus forecast of $3.82 billion. Excluding costs related to the failed takeover of U.S.-based railway Kansas City Southern (New York symbol KSU) and other one-time items, overall earnings improved 9.5%, to $1.08 billion from $985…