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Canadian National Railway (NYSE:CNI) reported their latest quarterly results this past week and hiked their dividend by 10%. Any dividend hike, especially in these 'tough economic times' usually gets my attention. Let's have a look at the quarter for the economically sensitive railway.

Positive

  • Hiked dividend by 10%
  • Earnings on a comparable basis were up about 24%
  • Revenues were up 13%
  • Results beat analyst expectations
  • Falling $CAD caused US earnings to inflate
  • Lagging fuel surcharges helped, given lower fuel costs

Negative

  • Volume was down 9.8%
  • Much of the earnings gain was attributed to the falling $CAD and the lagging fuel surcharges

Disclosure: I own competitor CP Rail (NYSE:CP) within my non-registered account.

Source: Canadian National Railway's Q4 - Dividend Gets Hiked Up 10%