(Source: Norfolk Southern press release, July 27, 2018)
NORFOLK, Va. — Norfolk Southern Corporation announced that its board of directors today approved an 11 percent increase in its quarterly dividend on the company’s common stock, from 72 to 80 cents per share.
Combined with the 18 percent dividend increase in the first quarter, Norfolk Southern has increased its dividend by 29 percent in 2018.
“In recognition of our strong results and financial position and our confidence in the future of Norfolk Southern, the board voted to increase the quarterly dividend for the second time this year,” said James A. Squires, Norfolk Southern chairman, president and CEO.
The dividend is payable Sept. 10 to shareholders of record on Aug. 6. Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 144 consecutive quarters.