CSX Corp. (CSX) said Wednesday its board of directors raised the quarterly dividend 8% to 26 cents a share from 24 cents.
The dividend, which marks CSX’s eighth increase during the past five years, is payable on December 15, 2010 to stockholders of record on November 30, 2010.
“As we meet our customers’ growing transportation needs, we are able to provide strong returns to our shareholders,” said Michael J. Ward, chairman, president and chief executive officer. “Today’s announcement is consistent with our commitment to doing both things well.”
CSX shares fell 2 cents to $55.81 at 2:35 p.m. ET in New York Stock Exchange trading.