Tuesday, January 21, 2014
Dividend Increase: NSC
Norfolk Southern (NSC) is increasing its quarterly dividend by 3.8%, from $0.52 to $0.54 per share, putting the company on track for its 13th consecutive year of dividend growth (news release). This increase comes just two quarters after the company's previous increase, announced in July 2013. Given that I own 95 shares of NSC, my quarterly dividend increases from $49.40 to $51.30 and my yield on cost becomes 3.21%. The extra $7.60 in annual dividend income raises my forward 12-month dividend total to $4,023.