Topic: How To Invest

Dividend Advisor Hotline – Friday, November 1, 2024

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $150.98, 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%. Despite the disruptions caused by a strike and wildfires in Alberta, CN’s revenue in the third quarter of 2024 rose 3.1%, to $4.11 billion from $3.99 billion a year earlier. However, that missed the consensus forecast of $4.41 billion. Higher volumes of crude oil and grain offset lower revenue from hauling coal, metals and minerals, and automotive products. Earnings in the quarter fell 2.1%, to $1.09 billion from $1.11 billion. The company spent $427 million on share buybacks in the quarter, so earnings per share improved 1.8%, to $1.72 from $1.69. That topped the…