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CSX Q1 profit up 11%, boosts dividend

By Religare
|

CSX Corporation, an international transportation company, reported Q1 net income of USD 442 million, an 11 per cent increase from USD 398 million in the same period last year. The company also generated earnings per share of USD 0.45, a 13 per cent increase from USD 0.40 per share it had posted in the first quarter of 2014.

Revenue in the quarter was USD 3 billion, driven by growth across many of CSX's markets and an improved pricing environment, partially offset by the impact of low natural gas prices, lower fuel recoveries and the strong US dollar.

 

The CSX Board of Directors has approved a 13 per cent increase in the quarterly dividend to USD 0.18 per share and also given its nod to the USD 2 billion share repurchase program.

Meanwhile, shares of CSX closed at USD 33.21, up 0.39 per cent on the NYSE.

Story first published: Wednesday, April 15, 2015, 13:00 [IST]
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