Topic: How To Invest

Dividend Advisor Hotline – Thursday, June 30, 2022

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $144.79, 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 2.0%. About 750 of CN’s signal and communications workers (3% of its total workforce) recently went on strike after their union and the company failed to reach a new contract deal. So far, the walkout has had little impact on CN’s operations. However, if the strike disrupts the delivery of essential goods such as grain and crude oil, it’s likely the federal government would ultimately bring in back-to-work legislation. The company has raised its dividend each year for the past 26 years. Including this latest increase, that payment has grown by an average annual rate of 12.2% over the…