CSX Corporation (CSX) to Issue Quarterly Dividend of $0.14 on June 15th

CSX Corporation (NASDAQ:CSX) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 29th will be given a dividend of 0.14 per share by the transportation company on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th.

CSX has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 21 consecutive years. CSX has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 26.0%.

CSX Stock Performance

NASDAQ:CSX opened at $46.61 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. CSX has a fifty-two week low of $30.85 and a fifty-two week high of $46.74. The stock has a market cap of $86.61 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. The firm’s fifty day simple moving average is $43.00 and its 200-day simple moving average is $39.51.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that CSX will post 1.9 earnings per share for the current fiscal year.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.