Norfolk Southern (NYSE:NSC) investors will soon receive a few more cents in shareholder payouts. The company has declared its latest common stock dividend, which is to be $0.52 per share paid on Sept. 10 to shareholders of record as of Aug. 2. That amount is $0.02, or 4%, higher than each of Norfolk Southern's previous four distributions of $0.50 apiece, the most recent of which was dispensed in June.
In the press release announcing the news, the company pointed out that it has paid a common stock distribution for 124 quarters in a row.
The new dividend annualizes to $2.08 per share. That yields 2.7% at Norfolk Southern's most recent closing stock price of $76.87.
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