Railroad operator Norfolk Southern Corp. on Tuesday said it will rise its quarterly dividend by 3 cents to 32 cents per share.
The dividend is payable on Sept. 10 to shareholders of record as of Aug. 1.
Norfolk Southern, which operates 21,000 railway miles in 22 states and the District of Columbia has increased its dividend 23 percent over the last 12 months.
Shares rose $1.69, or 2.7 percent, to $65.32 during afternoon trading. The stock has traded between $41.36 and $67.74 during the past 52 weeks.
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