Canadian National Railway (CNI) Announces CAD 5B Share Buyback Under New Normal Course Issuer Bid; Hikes Dividend to CAD 0.7325

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Go back to Canadian National Railway (CNI) Announces CAD 5B Share Buyback Under New Normal Course Issuer Bid; Hikes Dividend to CAD 0.7325

CN announces new normal course issuer bid for share repurchase and 19 per cent dividend increase

January 25, 2022 4:06 PM EST

MONTREAL, Jan. 25, 2022 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved the repurchase of its shares under a new normal course issuer bid (Bid), as well as a 19 per cent increase in the 2022 dividend on the Company's common shares outstanding.

The Bid, in the range of C$5 billion, permits CN to purchase, for cancellation, over a 12-month period up to 42 million common shares, representing 6.80 per cent of the 618,826,610 common shares issued and outstanding of the... More