Norfolk Southern (NSC) will raise its quarterly dividend by another 10.1 percent to $1.09 per share in Q3 of 2021. This comes after a dividend hike of 5.3 percent to $0.99 per share in Q1 of 2021. This is the second dividend hike since 2019 by the railroad company and 2021 marks five consecutive years of increases based on total dividends paid in calendar years. 

The next dividend is payable August 20, 2021 to shareholders of record on August 9, 2021. A new annual rate of $4.36 per share yields 1.7% at a stock price of $257.83.

Norfolk Southern Corporation is a rail transportation company. Its Norfolk Southern Railway Company subsidiary operates approximately 19,500 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides connections to other rail carriers. Norfolk Southern transports industrial products, including chemicals, agriculture, and metals and construction materials. In addition, the railroad is a principal carrier of coal, automobiles, and automotive parts. Since its inception in 1982, Norfolk Southern has paid consecutive quarterly dividends on its common stock.