Topic: How To Invest

Dividend Advisor Hotline – Friday, August 23, 2024

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $158.71, Toronto symbol CNR, remains a buy for long-term gains. CN’s 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 2.1%. On Thursday, CN and its rival Canadian Pacific Kansas City Ltd. (Toronto symbol CP) locked out the union representing their locomotive engineers, conductors, train and yard workers, and rail traffic controllers after failing to agree new labour contracts. In response, the federal government has instructed the Canadian Industrial Relations Board to end the dispute through a binding arbitration process. On Friday, the union served CN with a 72-hour strike notice. It’s unclear if CN’s workers will call off their action even if the labour board imposes binding arbitration. Early Friday, they threatened to appeal the government’s right to call…