Canadian National Reports Higher 4Q Profit

Canadian National Railway Co. reported a higher fourth-quarter profit from a year ago on higher freight volume.

Net income rose to C$610 million, or C$1.41 a share, from C$592 million, or C$1.32, a year ago. Revenue rose 7% higher to C$2.5 billion, Montreal-based CN said Tuesday.

The railroad also said it will boost its dividend by 15% to C43 cents, payable on March 28 to shareholders of record as of March 7.

For the full year, CN earned C$2.7 million, or C$6.12 per share, up from C$2.5 million, or C$5.41, in 2011.

Revenue for the year rose 10% to C$9.9 million, said CN, which is Canada’s largest freight railroad by revenue.