CN

CN Publishes Grain Plan, Invests in 1,500 High-Capacity Grain Hoppers

CN plans to acquire 1,500 new-generation, high-capacity grain hopper cars with delivery starting in January 2021. The new railcars aim to “encourage the economic recovery through job creation in the North American manufacturing sector and help CN continue to meet the growing needs of grain farmers and grain customers,” the company said.

CN 2Q2020 Results “Demonstrate Resiliency”

CN, the second North American Class I railroad to report second-quarter 2020 financial and operating results, was, as expected, adversely affected by the falloff in business related to the COVID-19 pandemic. Nevertheless, there are some bright spots, among them an increase in free cash flow, a decision to acquire 1,500 additional high-capacity grain hoppers, approval from the railroad’s Board of Directors to pay a third-quarter 2020 dividend, and re-affirmation of its C$2.9 billion capital plan.