Canadian National Railway - CNI STOCK NEWS

CN (TSX: CNR) (NYSE: CNI) has announced that Ghislain Houle, Executive Vice-President and Chief Financial Officer, will be presenting at Morgan Stanley's 12th Annual Laguna Conference on September 11, 2024. The presentation is scheduled to begin at 12:20 p.m. Eastern Time.

Investors and interested parties can access a live webcast of the presentation through CN's website in the Investors section. For those unable to attend the live event, a replay of the webcast will be made available after the conference concludes.

CN (TSX: CNR) (NYSE: CNI) has received an order from the Canada Industrial Relations Board (CIRB) imposing binding arbitration between the company and the Teamsters Canada Rail Conference (TCRC). The CIRB has also ordered that no further labour stoppage, including a lockout or strike, can occur during the arbitration process. This voids the recent strike notice issued by the Teamsters to CN.

The order extends the current collective agreement until a new agreement is signed. CN had been negotiating for nine months, offering improved pay, rest, schedules, and a voluntary mobile workforce. While disappointed that an agreement couldn't be reached at the bargaining table, CN is satisfied that this order ends the unpredictability affecting supply chains. The company remains focused on safely and efficiently resuming goods movement.

CN (TSX: CNR) (NYSE: CNI) has received a 72-hour strike notice from the Teamsters Canada Rail Conference (TCRC), with a potential strike starting at 10:00 AM ET on August 26, 2024. This comes after CN proactively ended a lockout following the Minister of Labour's direction for binding arbitration. CN emphasizes its focus on economic recovery, while criticizing the Teamsters' intent to strike.

Key points:

• CN claims to have negotiated in good faith for nine months, offering improved pay and working conditions
• Average 2023 earnings: conductors ~$121,000, locomotive engineers ~$150,000 (excluding benefits)
• CN offered modernized agreements in January and April, which were refused
• A simplified offer in May and proposal for voluntary binding arbitration in June were also rejected
• CN urges quick action from the Canada Industrial Relations Board (CIRB) to prevent economic harm

CN (TSX: CNR) (NYSE: CNI) has announced the end of its lock out and the immediate initiation of its recovery plan, effective 18:00 ET on August 22, 2024. This decision comes following an order by the Minister of Labour and aims to expedite economic recovery. CN is resuming train movements while awaiting the formal order from the Canada Industrial Relations Board (CIRB).

While CN expresses satisfaction that the labour conflict has concluded, allowing it to resume its role in powering the economy, the company also voiced disappointment that a negotiated deal could not be reached at the bargaining table despite its best efforts. The resolution of this dispute is expected to have significant implications for CN's operations and the broader Canadian economy.

CN (TSX: CNR) (NYSE: CNI) has initiated a lockout of employees represented by the Teamsters Canada Rail Conference (TCRC) as of Aug. 22, 2024, at 00:01 ET. This action follows the union's non-response to CN's latest offer, which aimed to improve wages and align work hours with federal rest mandates. The offer included a pilot project for hourly rates and scheduled shifts on part of the network.

Over nine months of negotiations, CN proposed offers with better pay, improved rest, and more predictable schedules. Currently, conductors and locomotive engineers work approximately 160 days a year, with average earnings in 2023 of about $121,000 for conductors and $150,000 for locomotive engineers, excluding benefits. CN urges the Teamsters to engage in negotiations with urgency, emphasizing the importance of reaching a deal beneficial for employees, the company, and the economy.

CN (TSX: CNR) (NYSE: CNI) has issued a lockout notice to the Teamsters Canada Rail Conference (TCRC) for Aug. 22 at 00:01 ET, as negotiations remain at an impasse. CN is continuing a phased shutdown of its Canadian rail network for safety reasons. The company has made several offers since January, including improved wages (up to $75/hour for Locomotive Engineers and $65/hour for Conductors), job security, and work-life balance. However, the TCRC has rejected all proposals, including an offer for binding arbitration.

Currently, conductors and locomotive engineers work approximately 160 days a year. In 2023, average earnings were about $121,000 for conductors and $150,000 for locomotive engineers, excluding benefits. CN emphasizes the need for a resolution to avoid disrupting supply chains and the Canadian economy.

CN (TSX: CNR) (NYSE: CNI) has formally requested government intervention under section 107 of the Canada Labour Code due to a lack of progress in negotiations with the Teamsters Canada Rail Conference (TCRC). The company is seeking binding arbitration to resolve the labour conflict and protect Canada's economy from prolonged uncertainty.

CN warns of a potential phased network shutdown starting August 22nd if no progress is made. The company has made four offers to the TCRC since January, including proposals on wages, rest, and labour availability, all of which were rejected. CN emphasizes the need for predictability in supply chains and highlights the potential impact on consumers and workers across Canada.

CN (TSX: CNR) (NYSE: CNI) has released its 2024-2025 Grain Plan, building on last year's strong performance. The plan outlines several new initiatives, including:

• Delivery of 750 new high-efficiency grain hopper cars
• Continued focus on scheduled railroading
• Deployment of new firefighting equipment
• Use of new technologies for improved safety

CN is prioritizing employee engagement, recruiting, and training to address labour market challenges. The plan was developed through consultation with key stakeholders, including the CN Agricultural Advisory Council. It assesses CN's ability to move anticipated grain levels and outlines steps to ensure safe and efficient transportation for farmers, customers, and supply chain partners.

CN (TSX: CNR) (NYSE: CNI) has announced its third-quarter 2024 dividend. The company's Board of Directors has approved a quarterly dividend of C$0.8450 per common share. This dividend will be paid on September 27, 2024, to shareholders of record at the close of business on September 6, 2024. The announcement demonstrates CN's commitment to providing regular returns to its shareholders, maintaining its dividend payment schedule.