CSX reported a good quarter and decided to raise the dividend and announce a buyback. This holding has been a nice steady contributor both with price slowly moving higher along with a growing dividend. They are building back up from their 3 for 1 split a few years ago. I am happy to own a little bit, but it may be beneficial to look at adding to my position to enjoy more of this news.
From the press release: The CSX of Directors has approved a 13% increase in its quarterly dividend to 18 cents a share, along with a new $2 billion buyback. The new dividend will be paid June 15 to shareholders of record as of May 29.
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Loved this quarter! Dividend raises, buybacks (at cheaper prices than peers) and decent earnings report... whats not to love!?
ReplyDeleteADD,
DeleteI like CSX. You have more shares than I do, but this quarter shows they are trying to live up to the slogan How tomorrow moves!
The rails might offer some good value these days. DividendVet just added to UNP and CSX, KSU, NSC, CP and CNI might be worth a look as well since a lot of oil transport might adversely affect these stocks going forward as oil production that travels by rail decreases. Still, always good to hear about a dividend raise.
ReplyDeleteDivHut,
DeleteThose are all good rail choices I think for the long term.
Did you see MPC announced a 2 for 1 split? From what I saw somewhere they are going to split the stock, but still keep the 50 cent dividend. Not positive if that is accurate, but that'd be awesome. I only have 4 something shares in my Roth of it though.