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Norfolk Southern raises dividend to 57 cents

Published on NewsOK Modified: July 22, 2014 at 1:43 pm •  Published: July 22, 2014

NEW YORK (AP) — Railroad operator Norfolk Southern said Tuesday it is raising its quarterly dividend to 57 cents from 54 cents.

Norfolk Southern Corp. will pay its next dividend on Sept. 10 to shareholders of record on Aug. 1.

The Norfolk, Virginia, company is scheduled to report its second-quarter results before the market opens on Wednesday.

In the first quarter the company's net income fell 18 percent because of severe winter weather, which slowed shipments, and reduced coal revenue.