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.
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.
For further information:
Communications and Public Affairs