Rail operator CN posts higher profit, raises quarterly dividend

Thu Jan 30, 2014 4:20pm EST
 
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TORONTO Jan 30 (Reuters) - Canadian National Railway Co , the country's largest rail operator, reported higher quarterly results on Thursday and raised its quarterly dividend by 16 percent.

Net income rose to C$635 million ($567.98 million), or 76 Canadian cents per share, in the quarter that ended on Dec. 31. This compares with a net income of C$610 million, or 71 Canadian cents per share during the same period last year.

The company's operating ratio, a key measure of efficiency, rose 1.2 points to 64.8 percent during the quarter. Full-year operating ratio was 63.4 per cent, up from 62.9 percent in 2012. The lower the operating ratio number the better.

The company will pay a quarterly dividend of 25 Canadian cents on March 31.