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CN Q4 net income increased 11 percent

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Staff writer ▼ | January 26, 2016
Canadian National Railway Company (CN) reported its results for the fourth quarter and year ended December 31, 2015.
Canadian National Railway
Canadian National Railway   Diluted EPS increased 15 percent to C$1.18
Full year net income increased 12 percent.
Q4 net income increased 11 percent to C$941 million, while diluted EPS increased 15 percent to C$1.18. Operating income increased seven percent to C$1,354 million.

Revenues decreased by one percent to C$3,166 million. Carloadings declined eight percent, and revenue ton-miles declined five percent. The operating ratio improved by 3.5 points to 57.2 percent.

Full-year 2015 financial highlights

Net income increased 12 percent to C$3,538 million, with diluted EPS rising 14 percent to C$4.39. Adjusted net income increased 16 percent to C$3,580 million, while adjusted diluted EPS increased 18 percent to C$4.44. Operating income rose 14 percent to C$5,266 million.

Revenues increased four percent to C$12,611 million. Carloadings declined two percent, and revenue ton-miles decreased three percent. The operating ratio for 2015 improved by 3.7 points to 58.2 percent. Free cash flow was a record C$2,373 million, compared with C$2,220 million for 2014.

The board has approved a 20 percent increase in the company's quarterly cash dividend. With this increase, CN's dividend on an annualized basis is C$1.50 per common share.