The Dynamic Dividend

Norfolk Southern Raises Dividend For 10th Straight Year

Norfolk Southern Corporation (NSC) declared a quarterly dividend of $0.40 per share today, an 11.1% increase over its last payout and a 17.7% improvement over the dividend paid during the same period last year.

Shares of NSC are trading at $64.04 (-0.42%) this afternoon, where they now feature a 2.43% dividend yield.

Today’s announcement sets up 2011 to be Norfolk Southern’s tenth consecutive year paying an increased dividend. The railroad company has raised its dividend rate by a total of 567% over that span.