Norfolk Southern increases quarterly dividend by 10 cents
Norfolk Southern Corporation (NYSE: NSC) announced a 10% increase in its quarterly dividend, raising it from $0.99 to $1.09 per share.
Sentiment and the balance of points
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Rhea-AI Summary
Norfolk Southern Corporation (NYSE: NSC) announced a 10% increase in its quarterly dividend, raising it from $0.99 to $1.09 per share. This increase reflects the company's confidence in its improved revenue and operating ratio outlooks. The dividend is set to be paid on August 20 to shareholders on record as of August 9. Norfolk Southern has consistently paid dividends for 156 consecutive quarters, indicating a strong commitment to delivering long-term value to shareholders.
Positive
- 10% increase in quarterly dividend from $0.99 to $1.09 per share.
- Demonstrates confidence in improved revenue and operating ratios.
- Dividend payment on August 20 shows commitment to shareholder returns.
Negative
- None.
Details
News Market Reaction – NSC
The recorded move for NSC in the trading session of this news was +0.70%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NORFOLK, Va., July 30, 2021 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) today announced that its board of directors has approved a
"This dividend increase demonstrates our confidence in Norfolk Southern's improved revenue and operating ratio outlooks, as well as our commitment to long-term sustained value for our shareholders," said James A. Squires, Norfolk Southern chairman, president and CEO.
The dividend is payable August 20 to shareholders of record on August 9. Norfolk Southern reduced the days between shareholder of record date and payable date beginning last quarter, effectively accelerating payments to shareholders. The company has paid a dividend on its common stock for 156 consecutive quarters since its formation in 1982.
About Norfolk Southern
Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 19,300 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern is a major transporter of industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials. In addition, the railroad operates the most extensive intermodal network in the East and is a principal carrier of coal, automobiles, and automotive parts.
Forward-looking statements
This news release contains forward-looking statements that may be identified by the use of words like "believe," "expect," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. Forward-looking statements reflect our good-faith evaluation of information currently available. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to our annual and quarterly reports filed with the SEC for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.
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SOURCE Norfolk Southern Corporation
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