NORFOLK, Va., July 30, 2021 /PRNewswire/ -- Norfolk Southern
Corporation (NYSE: NSC) today announced that its board of directors
has approved a 10% increase in its quarterly dividend on the
company's common stock, from $0.99 to
$1.09 per share.
"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