Tuesday, July 23, 2013
Dividend Increase: NSC
Norfolk Southern (NSC) is increasing its quarterly dividend by 4.0%, from $0.50 to $0.52 per share, putting the company on track for its 12th consecutive year of dividend growth (news release). Given that I own 95 shares of NSC, my quarterly dividend increases from $47.50 to $49.40 and my yield on cost becomes 3.09%. The extra $7.60 in annual dividend income raises my forward 12-month dividend total to $2,439. Thus far this year, there have been dividend increases for 20 of the 28 stocks in my portfolio.