by LCJ
[Lifted from UP Employee Website, Industry News]
CSX Corp. said Tuesday it will repurchase an additional $1 billion in company stock, hike its dividend by 25 percent and make significant capital expenditures over the next four years, The Associated Press reports.
The additional share repurchases raise its current buyback program to $3 billion.
The company also said it would hike its quarterly dividend beginning in September to 15 cents from 12 cents and plans to invest $6.4 billion in its operations over the next four years [emphasis added]. CSX will spend $1.5 billion in 2007, $1.6 billion in 2008 and 2009 and $1.7 billion in 2010 to meet expectation for increased freight demand. CSX will target its track, equipment, technology and facilities.
CSX Corp. said Tuesday it will repurchase an additional $1 billion in company stock, hike its dividend by 25 percent and make significant capital expenditures over the next four years, The Associated Press reports.
The additional share repurchases raise its current buyback program to $3 billion.
The company also said it would hike its quarterly dividend beginning in September to 15 cents from 12 cents and plans to invest $6.4 billion in its operations over the next four years [emphasis added]. CSX will spend $1.5 billion in 2007, $1.6 billion in 2008 and 2009 and $1.7 billion in 2010 to meet expectation for increased freight demand. CSX will target its track, equipment, technology and facilities.