Canadian National Railway - CNI STOCK NEWS

CN (CNI) reported strong third-quarter 2021 results, achieving adjusted diluted EPS of C$1.52, a 10% increase, and revenues of C$3.6 billion, up 5% from 2020. Despite a 2% drop in operating income to C$1.34 billion due to costs from the terminated KCS merger, the adjusted operating ratio improved to 59.0%. Year-to-date, free cash flow was C$2.03 billion. CN reaffirmed its 2021 outlook, expecting 10% EPS growth. Challenges included impacts from wildfires and grain volume reductions, while efficiency metrics showed improvements in fuel efficiency and train speed.

CN (CNI) announced a quarterly dividend of C$0.6150 per common share, approved by its Board of Directors. This payment will be made on December 30, 2021, to shareholders recorded as of December 9, 2021. As a leading transportation and logistics company, CN plays a crucial role in North America's economy, transporting over 300 million tons of goods annually. With a rail network of 19,500 miles, CN is committed to social responsibility and environmental stewardship, contributing to community prosperity since 1919.

CN (TSX: CNR) (NYSE: CNI) is set to release its Q3 2021 financial and operating results on October 19, 2021, after market close. A conference call, led by JJ Ruest, CN's President and CEO, will take place at 4:30 p.m. Eastern Time to discuss the results and outlook.

Participants can join the call by dialing 1-866-324-3683 (Canada/U.S.) or 1-509-844-0959 (International), using passcode 8759857. A live webcast will also be available on CN's website, with a replay accessible afterward.

TCI Fund Management has unveiled a strategic plan to enhance Canadian National Railway Company (CNI) by advocating for a new board and CEO. The plan identifies four key priorities: business growth, network investment, employee development, and environmental advocacy. It proposes the election of four independent directors and Jim Vena as CEO to improve governance and operational excellence. TCI aims to establish a high-service, low-cost network that benefits shareholders and promotes sustainability. Shareholders are encouraged to engage via the new resource site, www.CNBackOnTrack.com, leading up to the Special Meeting on March 22, 2022.

On October 5, 2021, TCI Fund Management, a significant shareholder in Canadian National Railway (CNI), announced its intention to nominate four independent directors for election at the Special Meeting scheduled for March 22, 2022. TCI emphasizes the need for a new board, citing the current board's lack of operational expertise and poor performance. The candidates nominated, including experienced railroad executives, aim to enhance governance and operational efficiency. TCI refutes claims from CN’s board regarding its motives and stresses that change is vital for CN's competitiveness and growth.

CN (TSX: CNR, NYSE: CNI) will release its third-quarter 2021 financial results after market close on October 19, 2021. A conference call discussing the results, led by JJ Ruest, President and Chief Executive Officer, will occur at 4:30 p.m. ET. Participants can join via telephone by calling 1-866-324-3683 (Canada/U.S.) or 1-509-844-0959 (International), using passcode 8759857. The call will also be webcast live, with supporting slides available on CN's website.

CN has scheduled a Special Meeting of Shareholders for March 22, 2022, in reaction to a requisition by TCI. The meeting date was mutually agreed upon, reflecting a commitment to governance and shareholder engagement. CN’s long-term growth strategy remains a priority, having received strong support from stakeholders. Despite TCI’s recent acquisition of a 5% stake and its criticism of CN’s pursuit of Kansas City Southern, the company emphasizes that it has delivered significant benefits to shareholders. CN defends its governance and past resolutions, underscoring its commitment to operational excellence.

CN (TSX: CNR, NYSE: CNI) has responded to misleading claims by TCI, highlighting conflicts of interest as TCI is also the largest shareholder of competitor Canadian Pacific (CP). CN asserts its leadership is equipped to deliver both immediate and long-term value, stating gains of $700 million from its Kansas City Southern (KCS) bid. The company emphasizes its strategic plan targeting a 57% operational ratio for 2022 and $5 billion in share repurchases. With a strong commitment to operational excellence, CN maintains that TCI's motives are suspect and lacks a credible plan for sustainable shareholder value.

CN has published its 2021-2022 Winter Plan, titled All in Together, emphasizing safety, collaboration, and technology in operations. The plan arises from extensive consultations with customers and stakeholders, ensuring readiness to tackle harsh winter conditions. JJ Ruest, President and CEO, declared the goal to be the safest and most innovative railway in North America. Underlining the importance of investments in infrastructure and technology, CN aims to safely transport over 300 million tons annually, contributing significantly to the North American economy.