By Stephen Nakrosis

 

Norfolk Southern Corp. on Tuesday said its board approved an increase to the company's quarterly dividend, raising it 14% to $1.24 per share.

The company said the new dividend will be payable on Feb. 21 to shareholders of record on Feb. 4.

James A. Squires, Norfolk Southern chairman and chief executive, said, "This increase in the dividend payment represents our confidence in the strength of the company and its prospects for long-term growth."

The company said it has paid a dividend on its common stock for 158 consecutive quarters since it was formed in 1982.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

January 25, 2022 11:44 ET (16:44 GMT)

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