Topic: How To Invest

Dividend Advisor Hotline – Friday, August 2, 2024

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $155.73, Toronto symbol CNR, remains a buy for long-term gains. CN operates Canada’s largest railway. Its 30,250-kilometre network stretches across the country. It also travels down through the U.S. Midwest, connecting Canada to the Gulf of Mexico. The company last raised your quarterly dividend with the March 2024 payment. Investors now receive $0.845 a share, up 7.0% from $0.79. The new annual rate of $3.38 yields 2.2%. CN’s revenue in the second quarter of 2024 rose 6.7%, to $4.33 billion from $4.06 billion a year earlier. However, that missed the consensus forecast of $4.40 billion. Higher volumes of commodities like crude oil, metals and grain offset disruptions on its network in Western Canada as shippers diverted goods to U.S. ports in response to a potential strike by CN’s engineers and conductors. Earnings in the quarter rose 0.4%, to $1.172 billion from $1.167 billion. The company spent $1.12 billion on share buybacks in the quarter, so earnings per share improved 4.5%, to…