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 12 percent, or 3 cents per share, to 29 cents per share. The increased dividend is payable on March 10 to stockholders of record on Feb. 1.
Today’s dividend increase is in addition to an 18 percent increase announced in July 2007. In total, Norfolk Southern has increased its dividend 32 percent over the last 12 months.
Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 102 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.