Canadian National Railway Company
CNI28 yrs growthIndustrials · Stock · quarterly payer
Forward Yield
2.11%
Annual Dividend
$2.60
Payout Ratio
46%
5-Yr Growth
7.8%
Ex-Date
Sep 8, 2026
Frequency
Quarterly
Summary
As of September 2026, Canadian National Railway Company (CNI) yields 2.11% ($2.60 per share annually), with a blended fair-value estimate of $93.50 — -24% downside, so it screens as overvalued. Dividend safety grade: A (93/100). 28 years of dividend growth.
Is CNI a good dividend stock?
YesCanadian National Railway Company (CNI) pays a quarterly dividend yielding 2.11% ($2.60/yr), with 28 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Dividend Aristocrat — 28 consecutive years of growth
- Never cut its dividend on record
- Comfortable payout ratio (46%)
- Strong 7.8% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 2.11%
- Payout Ratio
- 46%
- Annual Dividend
- $2.60
- 5-Yr Avg Growth
- 7.8%
- Ex-Dividend Date
- Sep 8, 2026
- Years of Growth
- 28
- Frequency
- quarterly
- Beta
- 0.99
- Market Cap
- $74.3B
- P/E Ratio
- 21.8
- 5-Yr Total Return
- 7%
- 52-Week Range
- $90.74 – $131.55
- Dividend Safety
- A · 93/100
- Ever Cut?
- No
Frequently Asked Questions
CNI Price — Last 12 Months
Daily close
Price Return
1 Year
+31%
3 Years
+14%
5 Years
+7%
52-Week Range
$90.74 – $131.55
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CNI worth?
Overvaluedmedium confidenceOur blended fair-value estimate for Canadian National Railway Company is $93.50 per share, versus a market price of $123.37. That implies 24% of downside.
Fair Value
$93.50
Current Price
$123.37
Downside
-24%
Margin of Safety
-32%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 17.6% annual free-cash-flow growth. We model 10.7% — so the price already assumes faster growth than we think is likely.
Assumptions: 9.2% discount rate (CAPM), 10.7% stage-1 growth, 2.5% terminal growth, $5.63 EPS, $2.60 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CNI Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 8, 2026 | — | $0.6630 | regular |
| Jun 9, 2026 | — | $0.6560 | regular |
| Mar 10, 2026 | — | $0.6740 | regular |
| Sep 8, 2025 | — | $0.6420 | regular |
| Jun 9, 2025 | — | $0.6480 | regular |
| Mar 10, 2025 | — | $0.6170 | regular |
| Dec 9, 2024 | — | $0.5970 | regular |
| Sep 6, 2024 | — | $0.6260 | regular |
| Jun 7, 2024 | — | $0.6180 | regular |
| Mar 6, 2024 | — | $0.6220 | regular |
| Dec 6, 2023 | — | $0.5810 | regular |
| Sep 7, 2023 | — | $0.5790 | regular |
| Jun 8, 2023 | — | $0.5910 | regular |
| Mar 9, 2023 | — | $0.5730 | regular |
Income Calculator
At $2.60 / yr per share
