CSX Corp. (CSX) Raises Quarterly Dividend 11.1% to $0.20; Announces $1B Stock Buyback
CSX Corp. (NASDAQ: CSX) declared a quarterly dividend of $0.20 per share, or $0.8 annualized. This is an 11.1% increase from the prior dividend of $0.18. The dividend will be payable on June 15, 2017, to stockholders of record on May 31, 2017, with an ex-dividend date of May 26, 2017. The annual yield on the dividend is 1.7 percent.
CSX also announced a new $1 billion share repurchase program, and strong financial guidance as it applies the Precision Scheduled Railroading model to its operations.
“Although we are just in the beginning phase of making changes to our network, we are off to a great start,” said E. Hunter Harrison, president and chief executive officer. “These changes are critical to driving strong, sustainable service for our customers and superior value for our shareholders.”
For a dividend history and other dividend-related data on CSX Corp. (CSX) click here.