Key Developments: Canadian National Railway Co (CNI)

CNI on New York Consolidated

56.71USD
17 Apr 2014
Price Change (% chg)

$0.39 (+0.69%)
Prev Close
$56.32
Open
$56.37
Day's High
$56.97
Day's Low
$56.20
Volume
604,769
Avg. Vol
914,913
52-wk High
$58.40
52-wk Low
$46.47

Search Stocks

Latest Key Developments (Source: Significant Developments)

Canadian National Railway Co proposes binding arbitration to reach contract settlement after train conductors' union in Canada narrowly fails to ratify second tentative labour agreement
Thursday, 20 Mar 2014 08:15pm EDT 

Canadian National Railway Co:Says it has proposed binding arbitration to reach a contract settlement with Teamsters Canada Rail Conference - Conductors, Trainpersons and Yardpersons (TCRC-CTY) after union advised that tentative labour agreement negotiated with CN on Feb. 5, failed to ratify.This is second tentative contract that he TCRC-CTY has not ratified this year.TCRC-CTY represents about 3,000 CN train conductors, trainpersons, yardpersons and traffic coordinators on CN's network in Canada.  Full Article

Canadian National Railway Co announces C$250 million debt offering
Tuesday, 11 Feb 2014 07:15pm EST 

Canadian National Railway Co:Says public debt offering of C$250 million 2.75pct Notes due 2021.Says it expects to close the offering on Feb. 18, 2014.Plans to use the net proceeds from the offering for general corporate purposes, including the redemption and refinancing of outstanding indebtedness, and share repurchases.The joint book-running managers of the debt offering are BMO Capital Markets, RBC Capital Markets, Scotia Capital Inc., and TD Securities.Says the co-managers of the debt offering are Citigroup Global Markets Canada Inc., BNP Paribas (Canada) Securities Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Desjardins Capital Markets, and HSBC Securities (Canada) Inc.  Full Article

Canadian National Railway Co wants to keep existing agreement - reuters
Wednesday, 5 Feb 2014 11:06am EST 

Canadian National Railway Co:The union representing 3,000 conductors, train and yard workers at Canadian National Railway Co said on Wednesday that the company told the union it is done negotiating and workers must choose between an existing deal or a strike - reuters.The Teamsters Canada Rail Conference said it briefly met with CN and government-appointed mediators Wednesday morning, after it gave notice of its intention to strike as early as Saturday.The notice came after workers voted down a tentative agreement reached in October.  Full Article

Canadian National Railway Co receives strike notice from train conductors union - Reuters
Wednesday, 5 Feb 2014 09:04am EST 

Canadian National Railway Co:Canadian National Railway Co said that the union representing roughly 3,000 of its train and yard operation employees in Canada has given the company a notice of its intention to strike - Reuters.The move comes just days after the tentative labor contract reached with the company was rejected by union members.The union gave notice of 72 hours, so workers could go on strike by Feb. 8.  Full Article

Canadian National Railway Co reaffirms FY 2014 guidance
Thursday, 30 Jan 2014 04:02pm EST 

Canadian National Railway Co:Says FY 2014 outlook remains consistent with the FY 2014 financial guidance that were announced on Dec. 10, 2013.Aims to deliver double-digit EPS growth in FY 2014 over adjusted diluted FY 2013 EPS of C$3.06.Fiscal 2014 EPS of C$3.49 - Thomson Reuters I/B/E/S.  Full Article

Canadian National Railway Co announces 16 pct increase in quarterly cash dividend
Thursday, 30 Jan 2014 04:02pm EST 

Canadian National Railway Co:Says that its Board of Directors has approved a 16 per cent increase in the company's cash dividend. With this increase, the company's dividend on an annualized basis is C$1.00 per common share.Says a quarterly dividend of C$0.25 per common share will be paid on Mar. 31, to shareholders of record at the close of business on Mar. 10.  Full Article

Canadian National Railway Co updates FY 2013 EPS guidance - Conference call
Wednesday, 11 Dec 2013 07:45am EST 

Canadian National Railway Co:Says that it is aiming for double-digit earnings growth and that is over the midpoint of the fiscal 2013 adjusted diluted EPS guidance which the company has just provided.Says which is in the range of C$3.05-C$3.10.Fiscal 2013 EPS of C$3.09 - Thomson Reuters I/B/E/S.  Full Article

Canadian National Railway Co files shelf prospectus for C$3.0 bln of debt securities
Tuesday, 3 Dec 2013 07:00pm EST 

Canadian National Railway Co:Files a final shelf prospectus with Canadian securities regulators and a registration statement with the United States Securities and Exchange Commission (SEC), providing for the issuance by CN of up to C$3.0 bln of debt securities in Canadian and U.S. markets over the next 25 months.Says it expects to use net proceeds from the sale of debt securities under the shelf prospectus for general corporate purposes, including the redemption and refinancing of outstanding debt, share repurchases, acquisitions, and other business opportunities.  Full Article

Canadian National Railway Co Announces USD600 Million Debt Offering
Tuesday, 29 Oct 2013 04:15pm EDT 

Canadian National Railway Co (CN) announced a public two-tranche debt offering of USD600 million, comprised of USD350 million Floating Rate Notes due 2015, and USD250 million 4.50% Notes due 2043. CN expects to close the offering on November 7, 2013, subject to customary closing conditions. CN plans to use the net proceeds from the offering for general corporate purposes, including the redemption and refinancing of outstanding indebtedness. The debt offering is being made in the United States under an effective shelf registration statement CN filed on Nov. 4, 2011. The joint book-running managers of the debt offering are; Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; and Merrill Lynch, Pierce, Fenner & Smith Incorporated. The co-managers of the debt offering are BNP PARIBAS, HSBC, BMO Capital Markets, RBC Capital Markets, Scotiabank, TD Securities, Wells Fargo Securities, LLC, Desjardins Capital Markets, Mitsubishi UFJ Securities (USA), Inc. and US Bancorp.  Full Article

Canadian National Railway Co Reaffirms FY 2013 EPS Guidance - Conference Call
Tuesday, 22 Oct 2013 04:30am EDT 

Canadian National Railway Co announced that it is reaffirming annual guidance which aims for high single digit EPS growth in fiscal 2013 over fiscal 2012's adjusted diluted EPS of CAD5.61. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report CAD6.08 for fiscal 2013.  Full Article

UPDATE 1-CN Rail to reach weekly grain volume target -CEO

(Adds comments by elevator group, CP, transport expert; CN on grain orders)

Search Stocks