OREANDA-NEWS. CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 16 per cent increase in the Company's cash dividend. With this increase, the Company's dividend on an annualized basis is CAD 1.00 per common share.

A quarterly dividend of twenty-five cents (CAD 0.25) per common share will be paid on March 31, 2014, to shareholders of record at the close of business on March 10, 2014.

Luc Jobin, CN executive vice-president and chief financial officer, said: “In keeping with our track record since CN's initial public offering of shares in 1995, we are pleased to raise our dividend for the 18th consecutive year. This 16 per cent dividend increase reflects our confidence in the growth prospects of the Company and our commitment to reward shareholders.”

CN has increased its dividend per share by 16 per cent per year on average since its privatization.