Canadian National Railway (CNI) Dividend History & Yield
Dividend ChampionCanadian National Railway (CNI) has increased its dividend for 30 consecutive years and currently yields 2.28%. The most recent dividend was $0.6746/share on Mar 31, 2026, paid Quarterly.
Current Yield
2.28%
TTM Dividend/Share
$2.61
Payment Frequency
Quarterly
Payout Ratio
34.3%
Consecutive Growth Years
30 (Dividend Champion)
Div Growth (1Y CAGR)
3.47%
Div Growth (5Y CAGR)
8.02%
Div Growth (10Y CAGR)
10.17%
CNI: compare the "Now" marker to the 1Y / 3Y / 5Y averages on the scale. One valuation signal among many — review fundamentals before investing.
Dividend health
Chowder score
10.3%
FCF payout ratio
15.7%
Net debt / EBITDA
2.6x
Interest coverage
7.68x
ROIC (TTM)
12.4%
Dividend Safety Score
6 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 34.3%, well below the 75% threshold.
Free cash flow covers dividend
FCF/share ($5.44) covers dividend/share ($2.61).
No dividend cuts in 10+ years
17 dividend cut(s) in the last 10 years.
Positive earnings growth trend
Earnings per share have grown over the past 5 years.
10+ years of consecutive growth
30 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 15.7%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 2.6x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (8.0%) exceeds EPS growth (5.4%) — payout ratio expanding.
Per-payment dividend history
Ex-date Jun 9, 2026
- Payment date
- Jun 30, 2026
- Dividend
- $0.6638
- Adj. dividend
- $0.6638
Ex-date Mar 10, 2026
- Payment date
- Mar 31, 2026
- Dividend
- $0.6746
- Adj. dividend
- $0.6746
Ex-date Dec 9, 2025
- Payment date
- Dec 30, 2025
- Dividend
- $0.6407
- Adj. dividend
- $0.6407
Ex-date Sep 8, 2025
- Payment date
- Sep 29, 2025
- Dividend
- $0.6427
- Adj. dividend
- $0.6427
Ex-date Jun 9, 2025
- Payment date
- Jun 30, 2025
- Dividend
- $0.6489
- Adj. dividend
- $0.6489
Ex-date Mar 10, 2025
- Payment date
- Mar 31, 2025
- Dividend
- $0.6150
- Adj. dividend
- $0.6150
Ex-date Dec 9, 2024
- Payment date
- Dec 30, 2024
- Dividend
- $0.5987
- Adj. dividend
- $0.5987
Ex-date Sep 6, 2024
- Payment date
- Sep 27, 2024
- Dividend
- $0.6231
- Adj. dividend
- $0.6231
Ex-date Jun 7, 2024
- Payment date
- Jun 28, 2024
- Dividend
- $0.6180
- Adj. dividend
- $0.6180
Ex-date Mar 6, 2024
- Payment date
- Mar 28, 2024
- Dividend
- $0.6220
- Adj. dividend
- $0.6220
Ex-date Dec 6, 2023
- Payment date
- Dec 28, 2023
- Dividend
- $0.5808
- Adj. dividend
- $0.5808
Ex-date Sep 7, 2023
- Payment date
- Sep 29, 2023
- Dividend
- $0.5790
- Adj. dividend
- $0.5790
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| Jun 9, 2026 | Jun 30, 2026 | $0.6638 | $0.6638 |
| Mar 10, 2026 | Mar 31, 2026 | $0.6746 | $0.6746 |
| Dec 9, 2025 | Dec 30, 2025 | $0.6407 | $0.6407 |
| Sep 8, 2025 | Sep 29, 2025 | $0.6427 | $0.6427 |
| Jun 9, 2025 | Jun 30, 2025 | $0.6489 | $0.6489 |
| Mar 10, 2025 | Mar 31, 2025 | $0.6150 | $0.6150 |
| Dec 9, 2024 | Dec 30, 2024 | $0.5987 | $0.5987 |
| Sep 6, 2024 | Sep 27, 2024 | $0.6231 | $0.6231 |
| Jun 7, 2024 | Jun 28, 2024 | $0.6180 | $0.6180 |
| Mar 6, 2024 | Mar 28, 2024 | $0.6220 | $0.6220 |
| Dec 6, 2023 | Dec 28, 2023 | $0.5808 | $0.5808 |
| Sep 7, 2023 | Sep 29, 2023 | $0.5790 | $0.5790 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Canadian National Railway has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 30 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $2.5473 | — | — |
| 2025 | $2.4618 | $2.5473 | +3.5% |
| 2024 | $2.3241 | $2.4618 | +5.9% |
| 2023 | $2.2505 | $2.3241 | +3.3% |
| 2022 | $1.9646 | $2.2505 | +14.6% |
| 2021 | $1.7324 | $1.9646 | +13.4% |
| 2020 | $1.6198 | $1.7324 | +6.9% |
| 2019 | $1.3908 | $1.6198 | +16.5% |
| 2018 | $1.2736 | $1.3908 | +9.2% |
| 2017 | $1.1476 | $1.2736 | +11.0% |
| 2016 | $0.9672 | $1.1476 | +18.6% |
| 2015 | $0.8985 | $0.9672 | +7.6% |
| 2014 | $0.8237 | $0.8985 | +9.1% |
| 2013 | $0.7480 | $0.8237 | +10.1% |
| 2012 | $0.6589 | $0.7480 | +13.5% |
| 2011 | $0.5224 | $0.6589 | +26.1% |
| 2010 | $0.5050 | $0.5224 | +3.4% |
| 2009 | $0.4595 | $0.5050 | +9.9% |
| 2008 | $0.4200 | $0.4595 | +9.4% |
| 2007 | $0.3250 | $0.4200 | +29.2% |
| 2006 | $0.2500 | $0.3250 | +30.0% |
| 2005 | $0.1950 | $0.2500 | +28.2% |
| 2004 | $0.1667 | $0.1950 | +17.0% |
| 2003 | $0.1433 | $0.1667 | +16.3% |
| 2002 | $0.1300 | $0.1433 | +10.3% |
| 2001 | $0.1167 | $0.1300 | +11.4% |
| 2000 | $0.1000 | $0.1167 | +16.7% |
| 1999 | $0.0883 | $0.1000 | +13.2% |
| 1998 | $0.0767 | $0.0883 | +15.2% |
| 1997 | $0.0667 | $0.0767 | +15.0% |
| 1996 | — | $0.0667 | — |
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Canadian National Railway (CNI) from the consolidated cash flow statement, in USD as filed.
Latest period
$2.21B
YoY change
+3.2%
5Y CAGR
+6.2%
Peak year (2025)
$2.21B
Latest annual
$2.21B
Cash dividends paid over time for Canadian National Railway (CNI)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Canadian National Railway (CNI)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $2.21B | +3.2% | +$68.20M | ||
| 2024 | $2.14B | +3.2% | +$67.00M | ||
| 2023 | $2.07B | +3.3% | +$67.00M | ||
| 2022 | $2.00B | +15.2% | +$264.00M | ||
| 2021 | $1.74B | +6.5% | +$106.00M | ||
| 2020 | $1.63B | +5.8% | +$90.00M | ||
| 2019 | $1.54B | +15.8% | +$211.00M | ||
| 2018 | $1.33B | +7.6% | +$94.00M | ||
| 2017 | $1.24B | +6.9% | +$80.00M | ||
| 2016 | $1.16B | +16.4% | +$163.00M | ||
| 2015 | $996.00M | +21.8% | +$178.00M | ||
| 2014 | $818.00M | +13.0% | +$94.00M | ||
| 2013 | $724.00M | +11.0% | +$72.00M | ||
| 2012 | $652.00M | +11.5% | +$67.00M | ||
| 2011 | $585.00M | +16.3% | +$82.00M | ||
| 2010 | $503.00M | +6.1% | +$29.00M | ||
| 2009 | $474.00M | +8.7% | +$38.00M | ||
| 2008 | $436.00M | +4.3% | +$18.00M | ||
| 2007 | $418.00M | +22.9% | +$78.00M | ||
| 2006 | $340.00M | +23.6% | +$65.00M | ||
| 2005 | $275.00M | +23.9% | +$53.00M | ||
| 2004 | $222.00M | +16.2% | +$31.00M | ||
| 2003 | $191.00M | +12.4% | +$21.00M | ||
| 2002 | $170.00M | +13.3% | +$20.00M | ||
| 2001 | $150.00M | +10.3% | +$14.00M | ||
| 2000 | $136.00M | +15.3% | +$18.00M | ||
| 1999 | $118.00M | +20.0% | +$19.70M | ||
| 1998 | $98.30M | +25.8% | +$20.17M | ||
| 1997 | $78.13M | +14.9% | +$10.15M | ||
| 1996 | $67.98M | — | +$67.98M | ||
| 1995 | $0 | — | — |
As of the 2025 fiscal year, Canadian National Railway (CNI) reported dividends paid of $2.21B – edged up 3.2% year-over-year.
Canadian National Railway dividends paid has grown for 30 consecutive years, with a +6.2% compound annual growth rate over 2020–2025 (5 years).
The highest annual dividends paid of $2.21B was reported in 2025. The lowest in the available history was $0 in 1995.
Within Industrials, Canadian National Railway (CNI) ranks 5th among 8 peers we track. The peer median for dividends paid is $2.23B.
Canadian National Railway Dividends Paid 2025: $2.21B
Canadian National Railway dividends paid in 2025 was $2.21B, edged up 3.2% from 2024. This figure represents the highest annual value in the available history.
Canadian National Railway Dividends Paid 2024: $2.14B
Canadian National Railway dividends paid in 2024 was $2.14B, edged up 3.2% from 2023.
Canadian National Railway Dividends Paid 2023: $2.07B
Canadian National Railway dividends paid in 2023 was $2.07B, edged up 3.3% from 2022.
Canadian National Railway Dividends Paid 2022: $2.00B
Canadian National Railway dividends paid in 2022 was $2.00B, grew 15.2% from 2021.
Canadian National Railway Dividends Paid 2021: $1.74B
Canadian National Railway dividends paid in 2021 was $1.74B.
See more financial history for Canadian National Railway (CNI).
Sector peers by dividends paid
Companies in the same sector as Canadian National Railway, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| RTX (RTX) | $3.57B | Industrials |
| Union Pacific (UNP) | $3.24B | Industrials |
| Honeywell International (HON) | $2.98B | Industrials |
| Caterpillar (CAT) | $2.75B | Industrials |
| Deere & Company (DE) | $1.72B | Industrials |
| Eaton Corporation (ETN) | $1.63B | Industrials |
| GE Aerospace (GE) | $1.45B | Industrials |
| Boeing (BA) | $0 | Industrials |
Frequently asked questions
Does Canadian National Railway pay dividends?
Yes, Canadian National Railway (CNI) pays quarterly dividends of approximately $2.61 per share annually, yielding 2.28%.
What is Canadian National Railway's dividend yield?
Canadian National Railway (CNI) has a current dividend yield of 2.28%.
Is Canadian National Railway's dividend safe?
Canadian National Railway (CNI) passes 6 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Canadian National Railway increased its dividend?
Canadian National Railway (CNI) has 30 consecutive years of dividend increases.
What is Canadian National Railway's dividend payout ratio?
Canadian National Railway (CNI) has a dividend payout ratio of 34.3%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Canadian National Railway's dividends paid?
Latest reported dividends paid for Canadian National Railway (CNI) is $2.21B (period ending March 31, 2026).
How has Canadian National Railway dividends paid changed year-over-year?
Canadian National Railway (CNI) dividends paid changed +3.2% year-over-year on the latest annual filing.
What is the long-term growth rate of Canadian National Railway dividends paid?
Canadian National Railway (CNI) dividends paid compound annual growth rate is +6.2% over the most recent 5 years available.
When did Canadian National Railway dividends paid hit its highest annual value?
Canadian National Railway dividends paid reached its highest annual value of $2.21B in 2025.
What was Canadian National Railway dividends paid in 2024?
Canadian National Railway (CNI) dividends paid in 2024 was $2.14B.
What was Canadian National Railway dividends paid in 2025?
Canadian National Railway (CNI) dividends paid in 2025 was $2.21B.
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