Canadian national railway PDF

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CompanCanadian National Railway Historical Growth DATE 2020-06-08 2020-03-09 2019-12-06 2019-09-06 2019-06-06 2019-03-07 2018-12-06 2018-09-06 2018-06-07 2018-03-07 2017-12-07 2017-09-07 2017-06-07 2017-03-08 2016-12-07 2016-09-07

Quarterly Annual Annual Dividend Growth Documentation Dividend 0.428 Source for dividends: https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO 0.429 0.408 1.671 2.86% Formula for annual growth: (D1-D0/D0) 0.406 0.401 Sample growth calculation: 0.5375 1.625 19.01% (1.671-1.6245)/1.6245=2.86 0.341 0.345 0.352 0.353 1.365 14.80% 0.323 0.337 0.307 0.308 1.189 no data 0.282 0.292

Average Growth Expected Dividend August 31 Price Expected Rate of Return Sustainable Growth Data: Net Income Book Value of Equity Dividend per Share Earnings per Share

Calculations:

Return on Equity Plowback Ratio Growth Rate Expected Dividend August 31 Price Expected Rate of Return

Result 9.167 1.824 136.48 9.18

Documentation G(2016-2017)+G(2017-2018)+G(2018-2019)+(2.86+19.01+14.8+0)/4=9.167 D(2019-2020)*(1+Average Growth) 1.671*(1+0.09167)=1.824 8/31/20 Source https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO (Expected Dividend/price)+growth (1.824/136.48)+9.167=9.18

####### ####### $2.15 5.85

2019-12-31 https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO 2019-12-31 https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO 2019-12-31 https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO

23.37% 99.71% 23.30% 2.06 136.48 24.81%

Net Income / BV of Equity 1-(ANNUAL DIVIDEND PER SHARE/EPS) ROE*PLOWBACK RATIO Dividend2019-2020 *(1+average growth) 8/31/20 (expected divdend/price)+g

4216000/18041000=0.2337 1-(0.01671/5.85)=0.9971 0.2337*0.9971=0.2330 0.0167*(1+0.2330)=0.0206 https://ca.finance.yahoo.com/quote/CNR.TO/financials?p=CNR.TO 2.06/136.48 +0.2330=0.2481...