Norfolk Southern Corporation (NYSE: NSC) announced that its Board of Directors today voted to increase the regular quarterly dividend on the company’s common stock by 6 percent, or 2 cents per share, from 32 to 34 cents per share. The increased dividend is payable on March 10, to stockholders of record on Feb. 6.
Today’s dividend increase is in addition to a 10 percent increase announced in July 2008. In total, Norfolk Southern has increased its dividend 17 percent over the last 12 months.
Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 106 consecutive quarters.
Norfolk Southern Corporation is one of the nation’s premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serving every major container port in the eastern United States and providing superior connections to western rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is North America’s largest rail carrier of metals and automotive products.