Welcome to our dedicated page for Canadian National Railway news (Ticker: CNI), a resource for investors and traders seeking the latest updates and insights on Canadian National Railway stock.
Canadian National Railway reports developments for a North American freight railroad that moves natural resources, manufactured products and finished goods across a network linking Canada's coasts with the U.S. Midwest and Gulf Coast. Recurring updates cover operating and financial results, grain movement, customer safety programs for regulated products, dividends, share repurchases, debt-market registration activity, shareholder voting matters and regulatory engagement affecting rail competition.
On March 11, 2021, JJ Ruest, CEO of CN (CNI), will address the GLIO Transportation Panel at 5:00 p.m. ET. This event highlights the essential role of railroads in infrastructure and the economy. Ruest's participation aims to showcase CN's strategic plans that will benefit North America. A live audio webcast of the speech will be made available on CN's Investor website, with a replay accessible shortly after the event. CN, a leader in transportation, plays a vital role in the economy, transporting over 300 million tons of goods across its extensive rail network annually.
CN sets a new record by shipping over 2.28 million metric tonnes of Canadian grain in February, surpassing the previous record of 2.12 MMT from 2019 by over 7%. For the 2020-2021 crop year, CN has moved more than 19.7 MMT, 24% higher than the three-year average. The company attributes this success to investments exceeding $10B in infrastructure and enhanced operational capabilities, ensuring safe and efficient grain transport despite challenging weather conditions.
The CN Board of Directors has announced new measures to enhance its Environmental, Social, and Governance (ESG) leadership among North American railroads. Key initiatives include establishing a CN Indigenous Advisory Council, introducing an annual advisory vote on its climate action plan, and committing to have at least 50% of independent directors from diverse backgrounds by 2022. Governance policies will be revamped, reducing board size, tenure, and retirement age. Several directors, including Don Carty and Maureen Kempston Darkes, will not seek re-election, signaling a shift in the board's composition.
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CN has announced a partnership with Earth Rangers to expand its EcoConnexions employee engagement program to employees' families, enhancing sustainability initiatives. Established in 2011, EcoConnexions focuses on reducing energy consumption and waste in CN's operations. Significant achievements include a 36% carbon reduction (140,000 tonnes), 208,000 tonnes of waste diverted from landfills, and $50 million in cost savings. The collaboration aims to instill environmental knowledge in families and foster a sustainable future.
CN (CNI) has filed its 2020 Annual Financial Statements, along with related documentation, with Canadian and U.S. securities regulators. These documents are accessible in the Investor section of CN's website. Shareholders can request printed copies of these documents free of charge. CN is recognized as a leader in transportation, facilitating the movement of over 300 million tons of goods across a vast rail network connecting Canada's coasts with the U.S. since 1919, while emphasizing social responsibility and environmental stewardship.
CN will present at the Citi 2021 Global Industrials Virtual Conference on February 17, 2021, at 10:30 a.m. ET. CEO JJ Ruest and CFO Ghislain Houle will provide insights which can be accessed via a live webcast on the company's Investor Relations webpage. CN is a key player in transportation, moving over 300 million tons of goods annually across a 19,500 mile rail network connecting Canada to the U.S. The company emphasizes its role in supporting the economy and is dedicated to social responsibility and environmental stewardship.
CN (NYSE: CNI) announced a new normal course issuer bid allowing the repurchase of up to 14 million common shares, equating to 2.36% of shares outstanding as of January 18, 2021. The bid runs from February 1, 2021, to January 31, 2022, reflecting confidence in generating free cash flow and continuing dividend growth. Additionally, a 7% increase in the quarterly dividend to C$0.6150 per share was approved, payable on March 31, 2021. The company previously repurchased nearly 2 million shares in its expiring bid, returning C$225 million to shareholders.
CN (CNI) reported a strong fourth quarter in 2020, with diluted EPS growing by 17% compared to the previous year, reaching C$1.43. Free cash flow hit a record C$3.2 billion. Although full-year revenues decreased by 7% to C$13.8 billion, the company is optimistic about 2021, reinstating guidance for high single-digit EPS growth and targeting C$3.0 to C$3.3 billion in free cash flow. Additionally, CN announced a 7% increase in its quarterly cash dividend and plans to repurchase up to 14 million shares under a new issuer bid.