Canadian National Railway Stock Price, News & Analysis

CN announced its Interim Extreme Weather Fire Plan on July 29, 2021, focusing on enhancing wildfire prevention, monitoring, and response in high-risk areas. The plan aims to protect communities while ensuring service continuity for customers. CN emphasizes the importance of safety and community engagement, inviting feedback on the plan by August 30, 2021. As a leader in transportation, CN is committed to social responsibility and sustainable trade across its extensive rail network in North America.

CN (TSX: CNR) (NYSE: CNI) has declared a quarterly dividend of C$0.6150 per common share, set to be paid on September 29, 2021. Shareholders must be on record by September 8, 2021. This dividend reflects CN's commitment to returning value to its shareholders while supporting its operations as a leader in transportation.

CN operates a 19,500-mile rail network, facilitating the movement of over 300 million tons of goods annually across North America, emphasizing its role in sustainable trade and community prosperity.

On July 20, 2021, CN (CNI) reported strong financial performance for Q2 2021, highlighting a 13% increase in revenue ton miles year-over-year and a 76% rise in operating income to C$1,382 million. Revenues reached C$3,598 million, up 12%, while diluted EPS increased 90% to C$1.46. The company's ongoing merger proposal with Kansas City Southern aims to boost competition in North America. CN reaffirmed its 2021 outlook, targeting double-digit adjusted EPS growth and free cash flow of C$3.0 billion to C$3.3 billion.

On July 20, 2021, CN (CNI) will release its second-quarter financial and operating results after market close. A conference call will follow at 4:30 p.m. Eastern Time, led by JJ Ruest, CN's president and CEO, to discuss the results and future outlook. Interested participants can join by dialing 1-866-324-3683 (Canada/U.S.) or 1-509-844-0959 (International) using passcode 8068015. The presentation will be webcast live on CN's investor website, with a replay available post-call. CN is a key player in transportation, safely moving over 300 million tons of goods annually across North America.

On July 8, 2021, CN (CNI) and Kansas City Southern (KSU) announced their proposed merger aimed at enhancing competition in the rail industry. Key commitments include maintaining open gateways, offering new direct rail services, and implementing price transparency with separately challengeable segment rates. This merger is projected to benefit shippers through improved route choices and competitive pricing, fostering a more dynamic rail market. The joint filing to the Surface Transportation Board aims to solidify the commitment to a pro-competitive environment.

The proposed merger between CN and Kansas City Southern (KCS) aims to enhance competition and provide more choices for rail customers, stakeholders, and communities. Key commitments include maintaining open gateways for pricing and routing flexibility, ensuring competitive joint line routings remain available post-merger, and offering binding arbitration for disputes. The merger is designed to create a more competitive marketplace that will boost North American trade and provide innovative service benefits across the rail network.

CN and Kansas City Southern (CNI, KSU) plan a virtual Special Meeting on August 19, 2021, for KCS stockholders to vote on their merger. KCS stockholders will receive $200 and 1.129 CN shares per KCS share, owning 12.65% of the new entity. This merger, which has received unanimous board approval, aims to create a premier railway. A voting trust is expected to be established, allowing KCS to maintain its independence during regulatory review. The transaction's completion is anticipated in the latter half of 2022, contingent on regulatory approvals.

Kansas City Southern (NYSE: KSU) has scheduled a virtual Special Meeting of Stockholders for August 19, 2021, to vote on its proposed merger with CN (NYSE: CNI). Stockholders of record as of July 1, 2021, are eligible to vote. The merger agreement, approved by both companies' Boards, offers KCS stockholders $200 in cash and 1.129 shares of CN for each KCS share, valuing KCS stockholders at approximately 12.65% of the new entity. The merger is expected to enhance competition and provide growth opportunities upon regulatory approval.

CN and Kansas City Southern submitted a proposal to the Surface Transportation Board (STB) for a voting trust related to their merger. This submission highlights the support from over 1,750 letters, including 1,000 for the voting trust, and advocates for enhanced competition and economic growth. Key figures, like former STB Commissioner William Clyburn, support the trust's compliance with regulations. CN has pledged $250 million for infrastructure investments, aiming to retain its strong financial profile while ensuring KCS's independence during the review process.