OTTAWA (dpa-AFX) - Canadian National Railway Co (CNR.TO, CNI) announced, for 2016, the company expects to deliver mid-single digit EPS growth over adjusted diluted 2015 EPS of C$4.44.
Claude Mongeau, president and CEO, said: 'Although the economic environment remains challenging, CN will continue to leverage its franchise strength and industry-leading efficiency. CN will continue to invest in the safety and efficiency of its network, with a 2016 capital investment program of approximately C$2.9 billion, including the negative impact of foreign exchange and increased spending for Positive Train Control technology.'
CN also announced that its Board has approved a 20 percent increase in the company's quarterly cash dividend. With this increase, CN's dividend on an annualized basis is C$1.50 per common share. A quarterly dividend of thirty-seven-and-one-half cents, or C$0.375, per common share will be paid on March 31, 2016, to shareholders of record at the close of business on March 10, 2016.
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