Thursday, January 30, 2014
Dividend Increase: CNI
Canadian National Railway (CNI) is increasing its quarterly dividend by 16.3%, from C$0.215 to C$0.25 per share, putting the company on track for its 18th consecutive year of dividend growth (news release). Given that I own 40 shares of CNI, my quarterly dividend (before tax withholding) increases from $8.60 to $10.00 and my yield on cost becomes 2.65%. The extra $4.76 in annual dividend income (after tax withholding) raises my forward 12-month dividend total to $4,259.