CN reports Q4 profit and revenue up from year ago, raises quarterly dividend
BNN Bloomberg
Canadian National Railway Co. raised its dividend as it reported its fourth-quarter profit and revenue rose compared with a year earlier.
The railway says it will now pay a quarterly dividend of 91.5 cents per share, up from 88.75 cents per share.
CN says it earned $1.25 billion or $2.03 per diluted share for the quarter ended Dec. 31, up from $1.15 billion or $1.82 per diluted share in the same quarter a year earlier.
Revenue totalled $4.46 billion, up from $4.36 billion.
On an adjusted basis, CN says it earned $2.08 per diluted share in its latest quarter, up from an adjusted profit of $1.82 per diluted share a year earlier.
CN’s operating ratio — a key measure of efficiency and profitability for a railway — for the quarter was 61.2 per cent, an improvement from 62.6 per cent a year earlier.
