Norfolk Southern Corp. (NSC), a rail transportation company, has raised its dividend for the past 11 years. Over the past decade, its dividends grew, on average, by 21.3% annually. This year, the company hiked its dividend twice, and its current quarterly payout is 16.3% higher than a year ago. Norfolk Southern presently pays a dividend yield of 3.2% on a payout ratio of 36%. Analysts forecast a robust long-term EPS growth, which will average 12.7% per year for the next half decade. The EPS growth will be driven by improving coal shipments, rising intermodal traffic, and rebounding merchandize traffic that is dependent on the rebound in the automotive, chemicals, and farm industries. The company's share buyback program is also reinforcing its EPS growth.