U.S. markets open in 9 minutes
  • S&P Futures

    3,843.00
    +4.00 (+0.10%)
     
  • Dow Futures

    31,609.00
    +144.00 (+0.46%)
     
  • Nasdaq Futures

    12,606.00
    -57.75 (-0.46%)
     
  • Russell 2000 Futures

    2,208.20
    +18.50 (+0.84%)
     
  • Crude Oil

    65.83
    -0.26 (-0.39%)
     
  • Gold

    1,690.80
    -7.70 (-0.45%)
     
  • Silver

    25.26
    -0.02 (-0.09%)
     
  • EUR/USD

    1.1878
    -0.0047 (-0.39%)
     
  • 10-Yr Bond

    1.5870
    +0.0330 (+2.12%)
     
  • Vix

    26.15
    -2.42 (-8.47%)
     
  • GBP/USD

    1.3845
    +0.0017 (+0.12%)
     
  • USD/JPY

    108.6590
    +0.2770 (+0.26%)
     
  • BTC-USD

    50,829.09
    +173.44 (+0.34%)
     
  • CMC Crypto 200

    1,026.56
    +83.39 (+8.84%)
     
  • FTSE 100

    6,641.94
    +11.42 (+0.17%)
     
  • Nikkei 225

    28,743.25
    -121.07 (-0.42%)
     

CSX Rewards Shareholders with an 8% Increase in Dividend

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

In a shareholder friendly measure, CSX Corporation CSX announced an 8% hike in its quarterly dividend. The move underscores the company’s sound financial position and its commitment to reward shareholders.

CSX raised its dividend to 28 cents per share (or $1.12 annually) from 26 cents. The amount will be paid out on Mar 15, 2021 to shareholders of record as of Feb 26.

Despite coronavirus-related adversities, the company has continued to reward its shareholders. In October 2020, CSX’s board approved a new share buyback program worth $5 billion. This is in addition to approximately $1.1 billion already remaining under the existing share repurchase program.

Previously, in February 2020, the company announced an 8% dividend hike to 26 cents per share. In 2020, it repurchased 13 million shares for $867 million.

CSX Corporation Price

CSX Corporation Price
CSX Corporation Price

CSX Corporation price | CSX Corporation Quote

Investors always prefer an income-generating stock. Hence a high-dividend-yielding one is obviously much coveted. It goes without saying that stockholders are always on the lookout for companies with a track record of consistent and incremental dividend payments to put their money on.

Zacks Rank & Key Picks

CSX carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. ARCB, Saia, Inc. SAIA and Herc Holdings Inc. HRI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of ArcBest, Saia and Herc Holdings have rallied more than 69%, 52% and 77% in the past six months, respectively.

Zacks Top 10 Stocks for 2021

In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?

Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2021 today >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

CSX Corporation (CSX) : Free Stock Analysis Report

Saia, Inc. (SAIA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research