MONTREAL,
Nov. 6, 2013 /CNW Telbec/ - CN (TSX:
CNR) (NYSE: CNI) announced today that in accordance with the
applicable rules of the Toronto Stock Exchange ("TSX") and New York
Stock Exchange ("NYSE"), the "due bill" trading procedures of such
stock exchanges will apply to CN's two-for-one stock split, which
will take the form of a stock dividend whereby shareholders will
receive one additional common share for each common share held. The
stock dividend will be payable on Nov. 29,
2013, to all shareholders of record at the close of business
on Nov. 15, 2013. CN announced the
pending stock split on Oct. 22,
2013.
A "due bill" is an entitlement attached to
listed securities undergoing a corporate action, such as a share
split. In this instance, the entitlement is to the share dividend.
The common shares will trade on a "due bill" basis from two trading
days prior to the record date (i.e., Wednesday, Nov. 13, 2013) to the payment date
(i.e., Friday, Nov. 29, 2013),
inclusively (the "due bill period"). Any trades that are executed
on the TSX or the NYSE during this period will be identified to
ensure purchasers of CN's common shares receive the entitlement to
the share dividend.
The common shares will commence trading on an
"ex-dividend" basis on Dec. 2, 2013,
as of which date purchases of CN's common shares will no longer
have an attaching entitlement to a stock dividend payment.
Shareholders do not need to take any action.
CN's transfer agent will send to registered shareholders an advice
under the direct registration system indicating the number of
additional shares that they receive as a result of the stock split.
These additional shares will be held in book entry form and
registered electronically in the transfer agent's recordkeeping
system, unless a physical share certificate is requested by the
registered shareholder. Beneficial owners with common shares held
through a brokerage account will have their accounts automatically
updated to reflect the share split.
Forward-Looking Statements
Certain information included in this news release constitutes
"forward-looking statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and under Canadian securities laws.
CN cautions that, by their nature, these forward-looking statements
involve risk, and assumptions. The Company cautions that its
assumptions may not materialize and that current economic
conditions render such assumptions, although reasonable at the time
they were made, subject to greater uncertainty.
Important risk factors that could affect the
forward-looking statements include, but are not limited to, the
effects of general economic and business conditions, industry
competition, inflation, currency and interest rate fluctuations,
changes in fuel prices, legislative and/or regulatory developments,
compliance with environmental laws and regulations, actions by
regulators, various events which could disrupt operations,
including natural events such as severe weather, droughts, floods
and earthquakes, labor negotiations and disruptions, environmental
claims, uncertainties of investigations, proceedings or other types
of claims and litigation, risks and liabilities arising from
derailments, and other risks detailed from time to time in reports
filed by CN with securities regulators in Canada and the
United States. Reference should be made to
"Management's Discussion and Analysis" in CN's annual and interim
reports, Annual Information Form and Form 40-F filed with Canadian
and U.S. securities regulators, available on CN's website, for a
summary of major risk factors.
CN assumes no obligation to update or revise
forward-looking statements to reflect future events, changes in
circumstances, or changes in beliefs, unless required by applicable
Canadian securities laws. In the event CN does update any
forward-looking statement, no inference should be made that CN will
make additional updates with respect to that statement, related
matters, or any other forward-looking statement.
CN is a true backbone of the economy,
transporting approximately C$250
billion worth of goods annually for a wide range of business
sectors, ranging from resource products to manufactured products to
consumer goods, across a rail network spanning Canada and mid-America. CN - Canadian National
Railway Company, along with its operating railway subsidiaries -
serves the cities and ports of Vancouver, Prince
Rupert, B.C., Montreal,
Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of
Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth,
Minn./Superior, Wis. and
Jackson, Miss., with connections
to all points in North America.
For more information on CN, visit the company's website at
www.cn.ca.
SOURCE CN