Canadian National Railway Discloses Specific Share Buyback Program

Canadian National Railway said late Tuesday it will repurchase common shares under a specific share repurchase program. The purchases are part of the normal course issuer bid for up to 33 million shares, disclosed on Oct. 25.

Canadian National said it will enter into an agreement with a third party to repurchase common shares through daily purchases through March 15, up to a maximum of 4.84 million common shares.

The company said the third party will purchase Canadian National common shares on the open market for the purpose of fulfilling its delivery obligations to Canadian National.