SmarterDividends
CNI

Canadian National Railway Company

CNI28 yrs growth

Industrials · Railroads · Stock · quarterly payer

$123.15

Overvalued · -20% Add to Portfolio

Forward Yield

2.10%

Annual Dividend

$2.58

Payout Ratio

46%

5-Yr Growth

7.8%

Ex-Date

Sep 8, 2026

Frequency

Quarterly

Key facts about CNI's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 25, 2026, Canadian National Railway Company (CNI) has a forward dividend yield of 2.10%, based on an annual dividend of $2.58 per share and a share price of $123.15.
  • As of Oct 25, 2026, CNI's dividend safety grade from SmarterDividends is A (93 out of 100), which rates the dividend as very safe.
  • By SmarterDividends' count, Canadian National Railway Company (CNI) has raised its dividend for 28 consecutive years as of Oct 25, 2026, which makes it a Dividend Aristocrat by the 25-year definition.
  • CNI has never cut its regular dividend in the payment history SmarterDividends has on record.
  • CNI's most recent ex-dividend date was Sep 8, 2026, for a dividend of $0.66 per share.
  • As of Oct 25, 2026, CNI pays out 46% of its trailing 12-month earnings as dividends (its payout ratio).
  • CNI's dividend has grown at an average rate of 7.8% a year over the past five years.
  • As of Oct 25, 2026, SmarterDividends' blended fair-value estimate for CNI is $98.26 per share, 20% below the $123.15 share price, so CNI screens as overvalued.
  • Canadian National Railway Company (CNI) pays its dividend quarterly, 4 times a year.
Cite this page

SmarterDividends, "CNI Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 25, 2026, https://smarterdividends.com/stocks/CNI

Summary

As of Oct 25, 2026, Canadian National Railway Company (CNI) yields 2.10% ($2.58 a year per share), has a dividend safety grade of A (93/100) and has 28 consecutive years of dividend increases on record.

Is CNI a good dividend stock?

Yes

Canadian National Railway Company (CNI) pays a quarterly dividend yielding 2.10% ($2.58/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

  • Share price is down over the past 5 years

Key Data

Dividend Yield
2.10%
Payout Ratio
46%
Annual Dividend
$2.58
5-Yr Avg Growth
7.8%
Ex-Dividend Date
Sep 8, 2026
Years of Growth
28
Frequency
quarterly
Beta
0.99
Market Cap
$74.4B
P/E Ratio
21.8
5-Yr Total Return
-3%
52-Week Range
$90.74 – $131.55
Dividend Safety
A · 93/100
Ever Cut?
No

CNI dividend changes

Canadian National Railway Company (CNI) pays a variable dividend: across the 118 payments on record since 1997, 55 were higher than the one before and 24 lower. The latest change was up 1.1% to $0.663 per share, going ex-dividend on Sep 8, 2026.

Ex-dateChangeOld → newMove
Sep 8, 2026Higher$0.656 → $0.663+1.1%
Jun 9, 2026Lower$0.674 → $0.656−2.7%
Mar 10, 2026Higher$0.642 → $0.674+5.0%
Jun 9, 2025Higher$0.617 → $0.648+5.0%
Mar 10, 2025Higher$0.597 → $0.617+3.4%
Dec 9, 2024Lower$0.626 → $0.597−4.6%
Sep 6, 2024Higher$0.618 → $0.626+1.3%
Mar 6, 2024Higher$0.581 → $0.622+7.1%
Dec 6, 2023Higher$0.579 → $0.581+0.3%
Sep 7, 2023Lower$0.591 → $0.579−2.0%
Jun 8, 2023Higher$0.573 → $0.591+3.1%
Mar 9, 2023Higher$0.537 → $0.573+6.7%
Every CNI payment →Download every raise and cut (CSV)
CNI ex-dividend date & scheduleNext ex-date Sep 8, 2026 · full ex-dividend historyView →CNI dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is CNI a good dividend stock?

Yes. Canadian National Railway Company (CNI) pays a quarterly dividend yielding 2.10% ($2.58/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.

Is CNI undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, CNI's fair value is about $98.26 versus a $123.15 share price — so it looks overvalued (-20% vs. fair value).

Is CNI's dividend safe?

CNI has a dividend-safety grade of A (93/100), based on its payout coverage, free-cash-flow, 28-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is CNI's fair value?

Our blended fair-value estimate for CNI is about $98.26 per share, about 20% below the current $123.15 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is CNI a buy, hold, or sell?

We don't issue formal ratings, but on the data CNI screens as "yes" and overvalued. Canadian National Railway Company (CNI) pays a quarterly dividend yielding 2.10% ($2.58/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. This is research for your own analysis, not investment advice.

Will CNI cut its dividend?

CNI earns a dividend-safety grade of A (93/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does CNI pay a dividend?

Yes. Canadian National Railway Company pays a quarterly dividend of about $2.58 per share annually, a forward yield of roughly 2.10%.

What is CNI's dividend yield?

As of Oct 25, 2026, CNI's forward dividend yield is 2.10%, based on a $2.58 annual dividend and a $123.15 share price.

What is CNI's dividend per share?

As of Oct 25, 2026, CNI pays $2.58 per share per year, distributed on a quarterly basis.

What is CNI's dividend payout ratio?

As of Oct 25, 2026, CNI's payout ratio is 46% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has CNI grown its dividend?

As of Oct 25, 2026, CNI has increased its dividend for 28 consecutive years.

When is the next CNI ex-dividend date?

As of Oct 25, 2026, CNI's next ex-dividend date hasn't been announced. The most recent was Sep 8, 2026, for $0.66 per share.

CNI Dividend News

CNI
IncreaseCNI·Sep 9, 2026

Canadian National U.S. Dividend Rises 1.1% on Currency Translation

Canadian National’s U.S.-dollar dividend equivalent rose 1.1% to $0.663, while stronger cash flow and higher guidance supported the quarterly payout.

Income Calculator

At $2.58 / yr per share

Per payment (quarterly)$64.50
Annual$258.00
Monthly avg$21.50

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