Key Developments: Canadian National Railway Co (CNI)
101.26USD
24 May 2013
$0.10 (+0.10%)
$101.16
$100.46
$101.39
$100.33
695,593
699,602
$104.43
$78.27
Latest Key Developments (Source: Significant Developments)
Canadian National Railway Co Reaffirms FY 2013 EPS Guidance-Conference Call
Canadian National Railway Co reaffirmed fiscal 2013 and expects high single digit growth in diluted earnings per share (EPS) over adjusted diluted earnings per share of CDN$5.61 for fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of CDN$6.13 for fiscal 2013. Full Article
Canadian National Railway Co Declares Second-Quarter 2013 Dividend
Canadian National Railway Co announced that Board of Directors has approved a second-quarter 2013 dividend on the Company's common shares outstanding. A quarterly dividend of forty-three cents (CAD0.43) per common share will be paid on June 28, 2013, to shareholders of record at the close of business on June 7, 2013. Full Article
Coalspur Mines Ltd And Canadian National Railway Co Sign Definitive Rail Transportation Agreement
Coalspur Mines Ltd announced that it has reached a definitive agreement (the Agreement) with CN (for the transportation of thermal coal from its Vista Coal Project (Vista) to Ridley Terminals Inc. (Ridley Terminals), as well as final agreement with CN regarding the construction of the railway line to serve the mine. The Agreement with CN is for a seven-year period, effective from January 01, 2013 and extending through to December 31, 2019. Pursuant to the terms of the Agreement, as with most western Canadian coal producers, Canadian National Railway Co (CN) will supply the equipment to carry Coalspur’s coal to tidewater. Coalspur and CN have also signed an agreement which will govern the construction of a 6.5km long railway line providing CN access to Coalspur’s loading site. The rail line will enable Coalspur to load the entire train in one continuous load. Subject to regulatory approval construction activity is expected to begin in third quarter of 2013 and be completed in early 2015. CN will ensure the rail line meets their design and construction specifications. Full Article
Canadian National Railway Co Announces 15% Increase In Quarterly Cash Dividend
Canadian National Railway Co announced that Board of Directors has approved a 15% increase in the Company's quarterly cash dividend. A quarterly dividend of forty-three cents (CAD0.43) per common share will be paid on March 28, 2013, to shareholders of record at the close of business on March 7, 2013. Full Article
Canadian National Railway Co Issues FY 2013 EPS Guidance Below Analysts' Estimates
Canadian National Railway Co announced that for fiscal 2013, it is aiming for high single-digit growth in diluted earnings per share (EPS) over adjusted diluted earnings per share of CAD5.61 for fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of CAD6.16 for fiscal 2013. Full Article
Canadian National Railway Co Completes Merger Of Elgin, Joliet And Eastern Into Wisconsin Central Subsidiary
Canadian National Railway Co announced that it will complete the merger of the Elgin, Joliet and Eastern Railway Company (EJ&E) into its Wisconsin Central Ltd. (WC) subsidiary, effective January 1, 2013. The merger of the two rail affiliates that connect in the Chicago area will simplify CN's corporate structure and operations in the United States. Full Article
Coalspur Mines Ltd and Canadian National Railway Co Agree on Key Supply Chain Terms Logistics' Costs for Vista Project Finalized
Coalspur Mines Ltd announced that it has agreed on binding key terms (Key Terms) for the definitive commercial transportation agreement with Canadian National Railway Co. The Key Terms agreed with CN for Coalspur's Vista Coal Project (Vista) now complete the logistics costs for Vista. Coalspur and CN have agreed on an seven year commercial contract that forms the foundation for a collaborative coal supply chain for Vista. At full production of twelve million tonnes per annum (Mtpa), the agreement with CN will enable Coalspur to achieve savings in total logistics costs from the Vista Feasibility Study released in January 2012. The Key Terms provide Coalspur with up to 12.0 Mtpa of rail allocation and are structured to reflect the production profile of Vista. Key Terms agreed include rates, term and price escalations for the first five years of production, commencing in 2015. Similar with most Western Canadian coal producers, CN plans on supplying equipment to carry Coalspur's coal to tidewater. The definitive agreement is expected to be executed in the first quarter of 2013. Full Article
Canadian National Railway Co Announces USD500 Million Debt Offering
Canadian National Railway Co announced a public two tranche debt offering of USD500 million, comprised of USD250 million 2.25% Notes due 2022, and USD250 million 3.50% Notes due 2042. CN expects to close the offering on November, 20, 2012. Full Article
Canadian National Railway Co Reaffirms FY 2012 EPS Guidance-Conference Call
Canadian National Railway Co announced that it is reaffirming its fiscal 2012 annual guidance which has aiming to deliver up to 15% growth in adjusted diluted EPS over fiscal 2011. The Company reported EPS of $4.84 in fiscal 2011. Full Article
Canadian National Railway Co Announces New Share Repurchase Program, Declares Quarterly Cash Dividend
Canadian National Railway Co announced that its Board of Directors has authorized a new normal-course-issuer bid to purchase, for cancellation, up to CAD1.4 billion in common shares, not to exceed 18 million common shares, representing 4.75% of the common shares issued and outstanding of the Company not held by insiders on October 15, 2012. Approximately 431.5 million common shares were issued and outstanding on that date. The Company announced that its Board of Directors has approved a fourth-quarter 2012 dividend on the Company's common shares outstanding. A quarterly dividend of CAD0.375 per common share will be paid on December 31, 2012, to shareholders of record at the close of business on December 10, 2012. Full Article
BRIEF-Canadian National Railway conference call
April 22 - Canadian National Railway Co : * Says Q1 crude by rail revenue was up 300 percent; "very long haul business" for cn rail * Says expects solid growth, solid revenue ton mile growth from crude by rail * Says expects new crude loading terminals to open on our line in the coming months * Says organic growth prospects for crude by rail "very significant" * Says crude by rail still picking up momentum; capital investment from different players very encouraging * Says new dis
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