(Source: Kansas City Southern press release, January 27, 2014)
KANSAS CITY, Mo. — Kansas City Southern’s (KCS) (NYSE:KSU) Board of Directors on January 27, 2014 declared a regular dividend of $0.28 per share on the outstanding KCS common stock, which is a 30% increase from the previous quarterly dividend of $0.215 per share. This dividend is payable on April 2, 2014, to common stockholders of record at the close of business on March 10, 2014.
The Board of Directors also declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on April 1, 2014 to preferred stockholders of record at the close of business on March 10, 2014.
“KCS has demonstrated over an extended time its ability to deliver excellent earnings,” stated President and Chief Executive Officer David L. Starling. “The Company’s diverse commodity mix and the resiliency of its franchise have allowed us to reward our shareholders for their support. The Board’s decision to increase the common stock dividend is an indication of KCS’ strong cash flows and balance sheet, as well as the Company’s commitment to its shareholders.”
The Board of Directors also set the Annual Meeting of Stockholders to be held in Kansas City, Missouri on Thursday, May 1, 2014. Stockholders of record of KCS’s common stock and KCS’s 4% non-cumulative preferred stock as of March 3, 2014, will be entitled to notice of the meeting and to vote at such meeting.