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Data last updated: Oct 19, 2026
Snapshot (as of Oct 19, 2026): Norfolk Southern Corporation (NSC) pays a $5.40 annual dividend ($1.35 quarterly), yielding 1.65% at $326.92/share. Next ex-dividend date 2026-08-07. 9 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 1.65%
Annual Dividend: $5.40 per share
Payout Ratio: 46.1%
Ex-Dividend Date: 2026-08-07
Dividend Frequency: quarterly
Sector: Industrials
Years of Dividend History: 45
Norfolk Southern Corporation dividend income comes from one of the largest freight rail networks in the eastern United States, spanning roughly 19,300 route miles across 22 states. NSC currently yields 1.69%, with a trailing annual dividend rate of $5.40 per share paid quarterly. The next ex-dividend date is August 7, 2026. With a beta of 1.268, this is not a low-volatility income play, making it better suited for growth-and-income investors comfortable with some price swings in exchange for a dividend that has grown at nearly 9.4% per year over the past 15 years.
Norfolk Southern Corporation pays out 46.0% of earnings as dividends, a payout ratio classified as moderate (40–60%). That level leaves meaningful earnings retained to fund operations across a freight network moving everything from soybeans and steel to finished motor vehicles, which represents a broad and recurring demand base. Norfolk Southern Corporation dividend safety faces its most direct pressure from the beta of 1.268, which reflects earnings sensitivity to economic cycles that could compress the coverage cushion if freight volumes contract sharply.
Over the past 15 years, Norfolk Southern Corporation dividend history shows a CAGR of 9.4% per year from 2010 to 2025. The per-share annual dividend grew from $1.40 to $5.40 over that window (2026 is a partial year and excluded from the rate calculation). The largest annual increase in the window was 32.9% in 2015, though the data also contains at least one year-over-year decline exceeding 5%, so the growth path has not been linear.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +2.9% | $4.96 (2022) | $5.40 (2025) |
| 5-Year | +7.5% | $3.76 (2020) | $5.40 (2025) |
| 10-Year | +6.2% | $2.95 (2015) | $5.40 (2025) |
NSC stock fits growth-and-income investors who want dividend expansion rather than immediate high income. The current yield of 1.69% is classified as low (below 2%), and it sits only modestly above the 5-year average yield of 1.58%, so there is little valuation cushion from a yield perspective. Nine consecutive years of dividend increases and a 9.4% 15-year CAGR are the real draw here. The trade-off is straightforward: an investor gets a dividend that has nearly quadrupled since 2010, backed by a moderate payout ratio, but accepts a yield that will not satisfy income-first portfolios.
| Payment Date | Amount per Share |
|---|---|
| 2026-08-07 | $1.3500 |
| 2026-05-08 | $1.3500 |
| 2026-02-06 | $1.3500 |
| 2025-11-07 | $1.3500 |
| 2025-08-01 | $1.3500 |
| 2025-05-02 | $1.3500 |
| 2025-02-07 | $1.3500 |
| 2024-11-01 | $1.3500 |
| 2024-08-02 | $1.3500 |
| 2024-05-02 | $1.3500 |
| Year | Total Dividends |
|---|---|
| 2026 | $4.0500 |
| 2025 | $5.4000 |
| 2024 | $5.4000 |
| 2023 | $5.4000 |
| 2022 | $4.9600 |
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