CANADIAN NATIONAL RAILWAY CO (CNI) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: February 04, 2025

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

630M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

CNI currently has 629M outstanding shares. with minimal authorized share overhang for future dilution. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Feb 04, 2025	40-F filing \| 628.8M shares outstanding	630M
Jan 31, 2024	40-F filing \| 643.8M shares outstanding	640M
Jan 31, 2023	40-F filing \| 672.4M shares outstanding	670M
May 05, 2022	F-10 filing: Canadian National Railway Company may offer and issue from time to time unsecured debt securities in one or more series in an aggregate principal amount not to exceed CAD$6,000,000,000 or the equivalent.	700M
Feb 01, 2022	40-F filing \| 702.0M shares outstanding	700M
Feb 01, 2021	40-F filing \| 711.6M shares outstanding	710M
Feb 11, 2020	F-10 filing: Canadian National Railway Company may offer and issue from time to time unsecured debt securities in an aggregate principal amount not to exceed CAD$6,000,000,000.	N/A

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