Canadian National Railway - CNI STOCK NEWS

CN (CNI) will be represented by Ghislain Houle, Executive Vice-President and CFO, at the J.P. Morgan 2022 Industrials Conference on March 16, 2022. The address is scheduled for 8:50 a.m. ET. A live webcast will be accessible via the Investors section of the company’s website, with a replay available post-event.

CN is a leading transportation provider, transporting over 300 million tons of goods across North America annually through its extensive rail network, playing a vital role in the economy and community.

CN has filed a response with the Surface Transportation Board regarding the CP-KCS merger, seeking the divestiture of the KCS line to enhance competition. This move aims to create new shipping options across a vital North American corridor, particularly benefiting communities and local businesses. CN plans to invest in the Kansas City Speedway, which will reduce roadway congestion and create jobs. Over 70 letters supporting this initiative have been submitted, emphasizing its potential economic benefits.

CN (TSX: CNR) (NYSE: CNI) has filed its 2021 Annual Financial Statements and associated documents with Canadian and U.S. regulators, now accessible on its investor website. Printed versions are available to shareholders upon request. CN plays a vital role in North American transportation, moving over 300 million tons of goods annually through its 19,500-mile network. The company emphasizes its commitment to social responsibility and environmental stewardship, contributing to economic growth since its establishment in 1919.

CN has announced the withdrawal of the requisition for a Special Meeting of Shareholders scheduled for March 22, 2022. This follows a Resolution Agreement with TCI, which includes plans to appoint two new independent directors by the 2022 Annual General Meeting. In return, TCI will support the election of all CN director nominees at upcoming AGMs. This move aims to strengthen the Board and enhance shareholder engagement, as noted by CN's Chair Robert Pace and TCI's Chris Hohn.

CN has appointed Tracy Robinson as President and CEO effective February 28, 2022, following the retirement of Jean-Jacques Ruest. Robinson brings over 35 years of experience from TC Energy and Canadian Pacific. The board welcomed Jean Charest as an independent director and appointed Shauneen Bruder as Vice Chair. Two additional independent directors with railroad expertise will join before the 2022 AGM. CN is focused on growth and enhancing shareholder value while ensuring a smooth leadership transition.

On January 25, 2022, CN (CNI) announced a C$5 billion share buyback plan allowing repurchase of up to 42 million shares over a year, representing 6.80% of common shares. The move follows a strong Q4 performance and aims to enhance shareholder value. Additionally, the dividend for 2022 increased by 19%, with a quarterly payout of C$0.7325 per share. The buyback, commencing February 1, 2022, will align with market conditions and regulations.

On January 25, 2022, CN reported strong financial results for Q4 and FY 2021, highlighting adjusted diluted EPS growth of 20% in Q4 to C$1.71 and an operating ratio improvement to a record 57.9%. Q4 revenues increased by 3% to C$3,753 million, while total revenue for 2021 was C$14,477 million, up 5%. Notably, the company expects approximately 20% adjusted diluted EPS growth for 2022 and a 19% dividend increase. Additionally, a new share buyback program was approved. The results reflect CN's resilience amid external challenges.

CN (CNI), a leading North American transportation company, will release its fourth-quarter and full-year 2021 financial results on January 25, 2022, after market close. A conference call to discuss these results and future outlook will follow at 4:30 PM ET, led by President and CEO JJ Ruest. Interested participants can join by dialing 1-866-324-3683 (Canada/U.S.) or 1-509-844-0959 (International) with passcode 1523718. A live webcast of the presentation will be available on CN's investor website, along with a replay post-call.