NS Increases Stock Dividend by 18%

Norfolk Southern has declared an 18 percent increase in its quarterly dividend on the company’s common stock, from 61 to 72 cents per share.

The dividend is payable on March 10 to shareholders of record on Feb 2.

In a news release, NS said it has paid dividends on its common stock for 142 consecutive quarters.

“This dividend increase demonstrates the board’s confidence in Norfolk Southern’s ability to invest in our business and in technology to grow and provide service to our customers, while returning capital to our shareholders consistent with our Strategic Plan,” said CEO James A. Squires in a statement.

NS also announced that Jennifer F. Scanlon has been elected to its board of directors.

Scanlon, 51, is president and chief executive officer of USG Corporation, a manufacturer of building products.

She will serve on the Compensation Committee and Finance and Risk Management Committee as an independent director.

Before assuming her current position at USG, Scanlon was president of the company’s international business; president of its L&W Supply Corporation, and chief information officer and chairman of the board for USG Boral Building Products.

She joined USG in 2003 as director of supply chain management and customer relationship management strategy and implementation.

Scanlon has a bachelor’s degree in government and computer applications from the University of Notre Dame and a master’s degree in finance and marketing from the University of Chicago.

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