Quarterly Dividend Chugs Higher At Norfolk Southern

Norfolk Southern (NSC: 73.61 +1.70%) announced today that the company will increase their quarterly dividend by 6% to $.36 per share.

 

Following the dividend hike, NSC’s dividend yield will increase to 2.5% based on today’s closing price. The railroad stock has been paying dividends since 1982.   

 

The dividend announcement comes as Norfolk Southern reported second quarter net income jumped 59%. The railroad stock is seeing strong year/year growth in rail traffic with revenues increasing 31%.

 

The increased dividend will be payable on September 10, 2010 to shareholders of record on August 6, 2010.

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