CSX Announces Guidance, Dividend Increase, Share Buyback - Quick Facts

(RTTNews) - CSX Corp. (CSX) announced financial guidance as it applies the Precision Scheduled Railroading model to its operations. CSX said the recent changes to the company's operations have already begun to deliver strong returns and are expected to accelerate in the coming quarters. Adjusting for restructuring charges in 2017, the company expects full-year operating ratio in the mid-60s, earnings per share growth of around 25 percent off the 2016 reported base of $1.81, and free cash flow before dividends of around $1.5 billion.

The CSX Board approved an increase in the quarterly dividend to $0.20. The new quarterly dividend is payable on June 15, 2017 to shareholders of record at the close of business on May 31, 2017. The Board also approved a new $1 billion share repurchase program, which management expects to complete by the end of the first quarter of 2018.