Canadian National Railway (CNI) Tops Q2 EPS by 9c; Approves 25 Million Share Buyback
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Canadian National Railway (NYSE: CNI) reports Q2 EPS of $0.95, 9 cents better than the analyst estimate of $0.86. Revenues for the quarter were $2.1 billion, versus the consensus of $2.06 billion.
On July 21, 2008, the Board of Directors of the Company approved a new share repurchase program which allows for the repurchase of up to 25.0 million common shares between July 28, 2008 and July 20, 2009 pursuant to a normal course issuer bid, at prevailing market prices or such other prices as may be permitted by the Toronto Stock Exchange.
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business in North America.
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