JACKSONVILLE, Fla. - May 9, 2012 - Earlier today, the board of directors of CSX Corporation (NYSE: CSX) approved a nearly 17 percent increase in the quarterly dividend on the company's common stock to $0.14 per share. The dividend is payable on June 15, 2012 to shareholders of record at the close of business on May 31, 2012. In the last five years, CSX has increased its dividend 250 percent.
"CSX has a strong balance sheet and cash flows and remains committed to a balanced approach to capital deployment," said Michael J. Ward, chairman, president and chief executive officer. "This approach has helped CSX create value in good and bad economic times and remains a cornerstone of our management philosophy."
CSX Corporation, based in Jacksonville, Fla., is one of the nation's leading transportation companies, providing rail, intermodal and rail-to-truck transload services. The company's transportation network spans approximately 21,000 miles, with service to 23 eastern states, the District of Columbia and two Canadian provinces. CSX's network connects more than 240 short line railroads and more than 70 ocean, river, and lake ports. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).