Norfolk Southern Raises Quarterly Dividend by 10 Cents to $1.09/Share
July 30 2021 - 04:33PM
Dow Jones News
By Maria Armental
Norfolk Southern Corp. is raising its dividend to $1.09 a share,
a 10-cent or 10% raise, citing a bullish outlook.
"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," Chief Executive James A. Squires said in a
statement.
The company reported earnings this week, including
second-quarter records for net income and diluted per-share profit
and quarterly records for operating ratio and income from railway
operations.
The railroad operator said the new payout will be made on Aug.
20 to shareholders of record as of Aug. 9.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
July 30, 2021 16:18 ET (20:18 GMT)
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