CSX Increases 2011 Capital Investment to $2.2 billion

Written by jrood

The CSX Board of Directors authorized an increase in 2011 capital investment for certain asset purchases, primarily railcars, to meet the growing near and long-term demand for export coal. As a result, the company now expects to make 2011 capital investments of $2.2 billion, up from the previously decided $2 billion. The increase is consistent with CSX's previously announced intention to reinvest an average of 18 percent of its revenues back into its business through 2015. It also supports the company's near- and long-term financial guidance. The Board of Directors also approved a $0.12 per share quarterly dividend on the company's common stock. The dividend is payable on Sept. 15, 2011, to shareholders of record at the close of business on Aug. 31, 2011.  

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