- CN (CNR) has announced the repurchase of its shares under a new normal course issuer bid
- Between February 1, 2023, and January 31, 2024, CN may purchase up to 32 million common shares for cancellation
- Daily purchases under the bid will be limited to 255,460 common shares
- CN’s current normal course issuer bid, CN had repurchased 30,839,917 common shares at an average price of C$156.42 per share
- CN transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year
- Canadian National Railway Company (CNR) ended the day trading at C$165.91
CN (CNR) has announced the repurchase of its shares under a new normal course issuer bid.
Under the bid, CN will purchase for cancellation up to 32 million common shares.
The bid will be conducted between February 1, 2023, and January 31, 2024, through the Toronto and New York stock exchanges. Purchases may also be conducted using derivative-based programs, accelerated share repurchase transactions, or other methods of acquiring shares, subject to any required regulatory approval and on such terms and at such times as shall be permitted by applicable laws.
Daily purchases under the bid will be limited to 255,460 common shares.
CN’s current normal course issuer bid expires on January 31, 2023. At the close of trading on January 18, 2023, CN had repurchased 30,839,917 common shares at an average price of C$156.42 per share.
CN’s Board of Directors has approved a first-quarter 2023 dividend on the company’s outstanding common shares. A quarterly dividend of seventy-nine cents (C$0.7900) per common share will be paid on March 31, 2023, to shareholders of record.
CN transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. CN’s network connects Canada’s Eastern and Western coasts with the U.S. South through an 18,600-mile rail network.
Canadian National Railway Company (CNR) ended the day trading at C$165.91.