CSX CORP : CSX Corporation Declares Dividend
06/25/2008| 04:36pm US/Eastern
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JACKSONVILLE, Fla., June 25 /PRNewswire-FirstCall/ -- On June 24, 2008,
the Board of Directors of CSX Corporation (NYSE: CSX) approved a 22 percent
increase in the quarterly dividend on the company's common stock to $0.22 per
share. The dividend is payable on September 15, 2008 to shareholders of
record at the close of business on September 1, 2008. CSX has more than
tripled its quarterly dividend over the past three years.
"Industry leading dividend increases provide significant value for
shareholders and underscore the momentum in our earnings performance and
future outlook for our businesses," said Michael J. Ward, Chairman, President
and Chief Executive Officer.
The company delivered record revenues, operating income and earnings per
share in the most recent quarter and has the most aggressive guidance in the
industry.
About CSX
CSX Corporation, based in Jacksonville, Fla., is one of the nation's
leading transportation companies, providing rail, intermodal and rail-to-truck
trainload services. The company's transportation network spans approximately
21,000 miles, with service to 23 eastern states and the District of Columbia,
and connects to more than 70 ocean, river and lake ports. More information
about CSX Corporation and its subsidiaries is available at the company's web
site, www.csx.com.
Forward-looking statements
This information and other statements by the company contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act with respect to, among other items: projections and
estimates of earnings, revenues, cost-savings, expenses, or other financial
items; statements of management's plans, strategies and objectives for future
operation, and management's expectations as to future performance and
operations and the time by which objectives will be achieved; statements
concerning proposed new products and services; and statements regarding future
economic, industry or market conditions or performance. Forward-looking
statements are typically identified by words or phrases such as "believe,"
"expect," "anticipate," "project," "estimate" and similar expressions.
Forward-looking statements speak only as of the date they are made, and the
company undertakes no obligation to update or revise any forward-looking
statement. If the company does update any forward-looking statement, no
inference should be drawn that the company will make additional updates with
respect to that statement or any other forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, and actual performance or results could differ materially from
that anticipated by these forward-looking statements. Factors that may cause
actual results to differ materially from those contemplated by these
forward-looking statements include, among others: (i) the company's success in
implementing its financial and operational initiatives, (ii) changes in
domestic or international economic or business conditions, including those
affecting the rail industry (such as the impact of industry competition,
conditions, performance and consolidation); (iii) legislative or regulatory
changes; (iv) the inherent business risks associated with safety and security;
and (v) the outcome of claims and litigation involving or affecting the
company.
Other important assumptions and factors that could cause actual results to
differ materially from those in the forward-looking statements are specified
in the company's SEC reports, accessible on the SEC's website at www.sec.gov
and the company's website at www.csx.com.
SOURCE CSX Corporation
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