As an investor in the stock market, I like it when my positions do well. I like investing even more when the stocks I own reward me as a shareholder with dividend increases. I and my fellow shareholders receive a dividend increase when the specific company does well.
As we continue to battle COVID19 pandemic across the world and new variants
being discovered, it is great to see some great positive news.
On January 26, 2021, Canadian National Railway “CN Rail” release its
earnings. CN Rail trades on both the Toronto
Stock Exchange and New York Stock Exchange under the ticker symbols CNR and CNI,
In the earnings release, CN Rail announced a dividend increase from $0.575
CAD per share quarterly to $0.615 CAD per share quarterly. That is a 6.96% increase!
I own 38 shares of CNR in my TFSA. This increase
adds $6.08 CAD to my annual dividend income.
CN Rail also announced a new normal course issuer bid for share repurchase,
which you can read about here.
Disclosure: Long CNR
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.
Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.