Canadian National Railway Q3 Profit Rises

(RTTNews) - Canadian National Railway Company (CNI, CNR.TO) Tuesday reported third-quarter net income of C$853 million or C$1.04 per share, up from C$705 million or C$0.84 per share last year.

Revenues for the quarter rose to C$3.12 billion from C$2.70 billion last year.

Analysts polled by Thomson Reuters expected the company to earn $1.05 per share on revenues of $3.15 billion for the quarter. Analysts' estimates typically exclude special items.

The company also authorized a new share buy back plan of up to 28 million common shares, and declared a dividend of C$0.25 per share, payable on December 31 to shareholders as of record December 10.