(CSX issued the following on June 25.)
JACKSONVILLE, Fla. — On June 24, 2008, the Board of Directors of CSX Corporation (NYSE: CSX) approved a 22 percent increase in the quarterly dividend on the company’s common stock to $0.22 per share. The dividend is payable on September 15, 2008 to shareholders of record at the close of business on September 1, 2008. CSX has more than tripled its quarterly dividend over the past three years.
“Industry leading dividend increases provide significant value for shareholders and underscore the momentum in our earnings performance and future outlook for our businesses,” said Michael J. Ward, Chairman, President and Chief Executive Officer.
The company delivered record revenues, operating income and earnings per share in the most recent quarter and has the most aggressive guidance in the industry.