# EDGAR Filing Document

**Accession Number:** 0000016868
**File Stem:** 0001104659-26-008303
**Filing Date:** 2026-1
**Character Count:** 7665
**Document Hash:** 0f94004eb21ea5f8eeeb22920208b854
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-008303.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001104659-26-008303

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CANADIAN NATIONAL RAILWAY CO
- **CENTRAL INDEX KEY:** 0000016868
- **STANDARD INDUSTRIAL CLASSIFICATION:** RAILROADS, LINE-HAUL OPERATING [4011]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 980018609
- **STATE OF INCORPORATION:** A8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-02413
- **FILM NUMBER:** 26580549

**BUSINESS ADDRESS:**
- **STREET 1:** 935 DE LA GAUCHETIERE ST W
- **STREET 2:** MONTREAL QUEBEC
- **CITY:** CANADA
- **STATE:** A8
- **ZIP:** H3B 2M9
- **BUSINESS PHONE:** 5143996569

**MAIL ADDRESS:**
- **STREET 1:** 935 DE LA GAUCHETIERE ST WEST
- **STREET 2:** MONTREAL QUEBEC
- **CITY:** CANADA H3B 2M9
- **STATE:** A8
- **ZIP:** 00000

**FORM 6-K**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Report of Foreign Issuer**

**Pursuant to Rule 13a-16 or 15d-16**

**of the Securities Exchange Act of 1934**

For the month of January 2026

Commission File Number: 001-02413

**Canadian National Railway Company**

(Translation of registrant's name into English)

**935 de la Gauchetiere Street West**

**Montreal, Quebec**

**Canada H3B 2M9**

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ◻ Form 40-F ⌧

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | | | |
|:---|:---|:---|:---|:---|
| | | **Canadian National Railway Company** | **Canadian National Railway Company** | **Canadian National Railway Company** |
| Date: | January 30, 2026 | By: | /s/ Cristina Circelli | /s/ Cristina Circelli |
|  |  |  | Name: | Cristina Circelli |
|  |  |  | Title: | Vice-President, Corporate Secretary and General Counsel |

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CANADIAN NATIONAL RAILWAY COMPANY

**Table of Contents**

<u>Items</u> <u>Description</u> <br>[1.](tm264473d1_ex99-1.htm) [News Release January 30, 2026](tm264473d1_ex99-1.htm)

## Exhibit 99.1

**Exhibit 99.1**

![](tm264521d1_ex99-2img002.jpg)

***NEWS RELEASE***

**CN Announces New Normal Course Issuer Bid <br> for Share Repurchase and 3% Dividend Increase**

**MONTREAL, January 30, 2026** — CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 3% increase in the 2026 dividend on the Company's outstanding common shares as well as the repurchase of its shares under a new normal course issuer bid (Bid).

"These actions reflect CN's strong cash flow and our disciplined approach to managing capital. We are investing in the business, returning capital to shareholders and maintaining a strong balance sheet to support long-term performance."

– Ghislain Houle, Executive Vice-President and Chief Financial Officer, CN

The Bid permits CN to purchase, for cancellation, over a 12-month period up to 24 million common shares, representing 3.9% of the 613,523,348 common shares issued and outstanding of the Company on January 22, 2026. On that date, 613,155,320 common shares not held by insiders were issued and outstanding.

The Bid will be conducted between February 4, 2026, and February 3, 2027, through a combination of discretionary transactions and automatic repurchase plans at market prices prevailing at the time of purchase, through the facilities of the Toronto and New York stock exchanges, or alternative trading systems in Canada and in the United States, if eligible, and will conform to their regulations. Purchases may also be conducted using derivative-based programs, accelerated share repurchase transactions, or other methods of acquiring shares, subject to any required regulatory and stock exchange approvals and on such terms and at such times as shall be permitted by applicable laws.

The decisions regarding the timing and size of future purchases of common shares under the Bid are subject to management's discretion and are based on a variety of factors, including market conditions. The new Bid was approved by the Toronto Stock Exchange (TSX) on January 29, 2026. TSX rules permit CN to purchase daily, through TSX facilities, a maximum of 395,423 common shares under the Bid.

CN believes that the repurchase of its shares represents an appropriate and beneficial use of the Company's funds.

CN's current normal course issuer bid, announced in January 2025 for the purchase of up to 20 million common shares, expires on February 3, 2026. As at the close of trading on January 22, 2026, CN had repurchased 15,250,222 common shares at a weighted-average price of C$134.44 per share, excluding brokerage fees, returning C$2,050 million to its shareholders. Purchases were made through the facilities of the TSX and alternative trading systems.

CN's Board of Directors also approved a first-quarter 2026 dividend on the Company's outstanding common shares. A quarterly dividend of ninety-one and a half cents (C$0.9150) per common share will be paid on March 31, 2026, to shareholders of record at the close of business on March 10, 2026.

**CN Forward-Looking Statements**

Certain statements included in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management's assessment and assumptions and publicly available information with respect to CN. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN 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. Forward-looking statements may be identified by the use of terminology such as "believes," "expects," "anticipates," "assumes," "outlook," "plans," "targets," "goals," or other similar words. Forward-looking statements reflect information as of the date on which they are made. 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 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.

**About CN**

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

– 30 –

***<u>Contacts:</u>***

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| | |
|:---|:---|
| ***<u>Media</u>*** | ***<u>Investment Community</u>*** |
| Ashley Michnowski | Stacy Alderson |
| Senior Manager | Assistant Vice-President |
| Media Relations | Investor Relations |
| (438) 596-4329 | (514) 399-0052 |
| <u>media@cn.ca</u> | <u>investor.relations@cn.ca</u> |

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