CSX Increases Quarterly Dividend and Share Repurchase Program

On February 12, CSX Corporation (CSX) announced that its Board of Directors authorized increases to both the quarterly dividend and the share repurchase program. CSX shareholders will receive a 10% increase in the quarterly dividend this March. In addition, the Board of Directors increased the authorization for share repurchases to $5 billion.

 

Sonal detected the event and sent an alert to subscribers at 9:00 am. The next trade was at 9:02 am for $51.58. Regular market trading opened for the day at $51.51. The stock price closed higher at $53.16 on the day of the announcement and continued to trend higher over the next four trading sessions. CSX closed at $56.10 on February 16 for a gain of 9% after the event.

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