Norfolk Southern (NSC) Dividend History & Yield
Norfolk Southern (NSC) has increased its dividend for multiple years and currently yields 1.73%. The most recent dividend was $1.3500/share on May 20, 2026, paid Quarterly.
Current Yield
1.73%
TTM Dividend/Share
$5.40
Payment Frequency
Quarterly
Payout Ratio
45.5%
Consecutive Growth Years
0
Div Growth (1Y CAGR)
0.00%
Div Growth (5Y CAGR)
7.51%
Div Growth (10Y CAGR)
6.23%
NSC: compare the "Now" marker to the 1Y / 3Y / 5Y averages on the scale. One valuation signal among many — review fundamentals before investing.
Dividend health
Chowder score
9.2%
FCF payout ratio
7.9%
Net debt / EBITDA
2.9x
Interest coverage
5.00x
ROIC (TTM)
10.1%
Dividend Safety Score
5 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 45.5%, well below the 75% threshold.
Free cash flow covers dividend
FCF/share ($9.60) covers dividend/share ($5.40).
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
Only 0 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 7.9%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 2.9x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (7.5%) exceeds EPS growth (-6.2%) — payout ratio expanding.
Per-payment dividend history
Ex-date May 8, 2026
- Payment date
- May 20, 2026
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Feb 6, 2026
- Payment date
- Feb 20, 2026
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Nov 7, 2025
- Payment date
- Nov 20, 2025
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Aug 1, 2025
- Payment date
- Aug 20, 2025
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date May 2, 2025
- Payment date
- May 20, 2025
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Feb 7, 2025
- Payment date
- Feb 20, 2025
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Nov 1, 2024
- Payment date
- Nov 20, 2024
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Aug 2, 2024
- Payment date
- Aug 20, 2024
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date May 2, 2024
- Payment date
- May 20, 2024
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Feb 1, 2024
- Payment date
- Feb 20, 2024
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Nov 2, 2023
- Payment date
- Nov 20, 2023
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
Ex-date Aug 3, 2023
- Payment date
- Aug 21, 2023
- Dividend
- $1.3500
- Adj. dividend
- $1.3500
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| May 8, 2026 | May 20, 2026 | $1.3500 | $1.3500 |
| Feb 6, 2026 | Feb 20, 2026 | $1.3500 | $1.3500 |
| Nov 7, 2025 | Nov 20, 2025 | $1.3500 | $1.3500 |
| Aug 1, 2025 | Aug 20, 2025 | $1.3500 | $1.3500 |
| May 2, 2025 | May 20, 2025 | $1.3500 | $1.3500 |
| Feb 7, 2025 | Feb 20, 2025 | $1.3500 | $1.3500 |
| Nov 1, 2024 | Nov 20, 2024 | $1.3500 | $1.3500 |
| Aug 2, 2024 | Aug 20, 2024 | $1.3500 | $1.3500 |
| May 2, 2024 | May 20, 2024 | $1.3500 | $1.3500 |
| Feb 1, 2024 | Feb 20, 2024 | $1.3500 | $1.3500 |
| Nov 2, 2023 | Nov 20, 2023 | $1.3500 | $1.3500 |
| Aug 3, 2023 | Aug 21, 2023 | $1.3500 | $1.3500 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
The table shows 34 year-over-year increases across 43 calendar years of data (1983–2025).
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $5.4000 | — | — |
| 2025 | $5.4000 | $5.4000 | 0.0% |
| 2024 | $5.4000 | $5.4000 | 0.0% |
| 2023 | $4.9600 | $5.4000 | +8.9% |
| 2022 | $4.1600 | $4.9600 | +19.2% |
| 2021 | $3.7600 | $4.1600 | +10.6% |
| 2020 | $3.6000 | $3.7600 | +4.4% |
| 2019 | $3.0400 | $3.6000 | +18.4% |
| 2018 | $2.4400 | $3.0400 | +24.6% |
| 2017 | $2.3600 | $2.4400 | +3.4% |
| 2016 | $2.9500 | $2.3600 | -20.0% |
| 2015 | $2.2200 | $2.9500 | +32.9% |
| 2014 | $2.0400 | $2.2200 | +8.8% |
| 2013 | $1.9400 | $2.0400 | +5.2% |
| 2012 | $1.6600 | $1.9400 | +16.9% |
| 2011 | $1.4000 | $1.6600 | +18.6% |
| 2010 | $1.3600 | $1.4000 | +2.9% |
| 2009 | $1.2200 | $1.3600 | +11.5% |
| 2008 | $0.9600 | $1.2200 | +27.1% |
| 2007 | $0.6800 | $0.9600 | +41.2% |
| 2006 | $0.4800 | $0.6800 | +41.7% |
| 2005 | $0.3600 | $0.4800 | +33.3% |
| 2004 | $0.3000 | $0.3600 | +20.0% |
| 2003 | $0.2600 | $0.3000 | +15.4% |
| 2002 | $0.2400 | $0.2600 | +8.3% |
| 2001 | $0.8000 | $0.2400 | -70.0% |
| 2000 | $0.8000 | $0.8000 | 0.0% |
| 1999 | $0.8000 | $0.8000 | 0.0% |
| 1998 | $0.8000 | $0.8000 | 0.0% |
| 1997 | $0.7467 | $0.8000 | +7.1% |
| 1996 | $0.6933 | $0.7467 | +7.7% |
| 1995 | $0.6400 | $0.6933 | +8.3% |
| 1994 | $0.6200 | $0.6400 | +3.2% |
| 1993 | $0.6000 | $0.6200 | +3.3% |
| 1992 | $0.5333 | $0.6000 | +12.5% |
| 1991 | $0.5038 | $0.5333 | +5.9% |
| 1990 | $0.4571 | $0.5038 | +10.2% |
| 1989 | $0.4200 | $0.4571 | +8.8% |
| 1988 | $0.4000 | $0.4200 | +5.0% |
| 1987 | $0.3778 | $0.4000 | +5.9% |
| 1986 | $0.3778 | $0.3778 | 0.0% |
| 1985 | $0.3556 | $0.3778 | +6.2% |
| 1984 | $0.3111 | $0.3556 | +14.3% |
| 1983 | — | $0.3111 | — |
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Norfolk Southern (NSC) from the consolidated cash flow statement, in USD as filed.
Latest period
$1.21B
YoY change
-0.5%
5Y CAGR
+4.8%
Peak year (2023)
$1.23B
Latest annual
$1.22B
Cash dividends paid over time for Norfolk Southern (NSC)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Norfolk Southern (NSC)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $1.22B | -0.5% | -$6.00M | ||
| 2024 | $1.22B | -0.3% | -$4.00M | ||
| 2023 | $1.23B | +5.0% | +$58.00M | ||
| 2022 | $1.17B | +13.5% | +$139.00M | ||
| 2021 | $1.03B | +7.1% | +$68.00M | ||
| 2020 | $960.00M | +1.2% | +$11.00M | ||
| 2019 | $949.00M | +12.4% | +$105.00M | ||
| 2018 | $844.00M | +20.1% | +$141.00M | ||
| 2017 | $703.00M | +1.2% | +$8.00M | ||
| 2016 | $695.00M | -2.5% | -$18.00M | ||
| 2015 | $713.00M | +3.8% | +$26.00M | ||
| 2014 | $687.00M | +7.8% | +$50.00M | ||
| 2013 | $637.00M | +2.1% | +$13.00M | ||
| 2012 | $624.00M | +8.3% | +$48.00M | ||
| 2011 | $576.00M | +12.1% | +$62.00M | ||
| 2010 | $514.00M | +2.8% | +$14.00M | ||
| 2009 | $500.00M | +9.6% | +$44.00M | ||
| 2008 | $456.00M | +21.0% | +$79.00M | ||
| 2007 | $377.00M | +35.6% | +$99.00M | ||
| 2006 | $278.00M | +43.3% | +$84.00M | ||
| 2005 | $194.00M | +36.6% | +$52.00M | ||
| 2004 | $142.00M | +21.4% | +$25.00M | ||
| 2003 | $117.00M | +15.8% | +$16.00M | ||
| 2002 | $101.00M | +8.6% | +$8.00M | ||
| 2001 | $93.00M | -69.6% | -$213.00M | ||
| 2000 | $306.00M | +0.7% | +$2.00M | ||
| 1999 | $304.00M | +0.3% | +$1.00M | ||
| 1998 | $303.00M | +0.7% | +$2.00M | ||
| 1997 | $301.00M | +6.1% | +$17.30M | ||
| 1996 | $283.70M | +3.7% | +$10.20M | ||
| 1995 | $273.50M | +4.1% | +$10.80M | ||
| 1994 | $262.70M | +1.2% | +$3.00M | ||
| 1993 | $259.70M | +1.8% | +$4.70M | ||
| 1992 | $255.00M | +6.9% | +$16.50M | ||
| 1991 | $238.50M | -3.9% | -$9.70M | ||
| 1990 | $248.20M | +2.6% | +$6.30M | ||
| 1989 | $241.90M | — | — |
Norfolk Southern (NSC) most recent annual dividends paid stands at $1.22B (2025) – edged down 0.5% year-over-year.
Across 2020–2025 (5 years), Norfolk Southern dividends paid produced a CAGR of +4.8% – with the latest reading among the more recent periods of the dataset.
The dataset's maximum dividends paid sits at $1.23B (2023); the minimum reading of $93.00M dates to 2001.
Among 8 Industrials peers, Norfolk Southern (NSC) ranks 8th; the peer median for dividends paid is $2.23B.
Norfolk Southern Dividends Paid 2025: $1.22B
Norfolk Southern dividends paid in 2025 was $1.22B, edged down 0.5% below 2024.
Norfolk Southern Dividends Paid 2024: $1.22B
Norfolk Southern dividends paid in 2024 was $1.22B, edged down 0.3% below 2023.
Norfolk Southern Dividends Paid 2023: $1.23B
Norfolk Southern dividends paid in 2023 was $1.23B, edged up 5.0% from 2022. This figure represents the highest annual value in the available history.
Norfolk Southern Dividends Paid 2022: $1.17B
Norfolk Southern dividends paid in 2022 was $1.17B, grew 13.5% from 2021.
Norfolk Southern Dividends Paid 2021: $1.03B
Norfolk Southern dividends paid in 2021 was $1.03B.
See more financial history for Norfolk Southern (NSC).
Sector peers by dividends paid
Companies in the same sector as Norfolk Southern, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| RTX (RTX) | $3.57B | Industrials |
| Union Pacific (UNP) | $3.24B | Industrials |
| Honeywell International (HON) | $2.98B | Industrials |
| Caterpillar (CAT) | $2.75B | Industrials |
| Deere & Company (DE) | $1.72B | Industrials |
| Eaton Corporation (ETN) | $1.63B | Industrials |
| GE Aerospace (GE) | $1.45B | Industrials |
| Boeing (BA) | $0 | Industrials |
Frequently asked questions
Does Norfolk Southern pay dividends?
Yes, Norfolk Southern (NSC) pays quarterly dividends of approximately $5.40 per share annually, yielding 1.73%.
What is Norfolk Southern's dividend yield?
Norfolk Southern (NSC) has a current dividend yield of 1.73%.
Is Norfolk Southern's dividend safe?
Norfolk Southern (NSC) passes 5 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Norfolk Southern increased its dividend?
Norfolk Southern (NSC) has 0 consecutive years of dividend increases.
What is Norfolk Southern's dividend payout ratio?
Norfolk Southern (NSC) has a dividend payout ratio of 45.5%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Norfolk Southern's dividends paid?
Latest reported dividends paid for Norfolk Southern (NSC) is $1.21B (period ending March 31, 2026).
How has Norfolk Southern dividends paid changed year-over-year?
Norfolk Southern (NSC) dividends paid changed -0.5% year-over-year on the latest annual filing.
What is the long-term growth rate of Norfolk Southern dividends paid?
Norfolk Southern (NSC) dividends paid compound annual growth rate is +4.8% over the most recent 5 years available.
When did Norfolk Southern dividends paid hit its highest annual value?
Norfolk Southern dividends paid reached its highest annual value of $1.23B in 2023.
What was Norfolk Southern dividends paid in 2024?
Norfolk Southern (NSC) dividends paid in 2024 was $1.22B.
What was Norfolk Southern dividends paid in 2025?
Norfolk Southern (NSC) dividends paid in 2025 was $1.22B.
Explore more
NSC Overview
Company profile, financial tools, and key metrics
NSC Revenue Counter
Earns $386.38 every second. See per minute, hour, and day.
NSC Earnings Counter
Earns $84.67 per second net profit. See per minute, hour, and day.
NSC Economic Scale
Exceeds Somalia, Fed. Rep.'s GDP. Compare with world economies.
NSC What If Invested
What if you had invested $1,000? See historical returns from any date.
NSC How It Makes Money
Discover visual breakdown of $12.19B in revenue — where it comes from and where it goes.
NSC Stock Seasonality
Best and worst months to invest. Historical monthly returns heatmap.
NSC Price Target Scenarios
Model bear, base, and bull cases with EPS growth and exit P/E — pre-filled from analysts and history.
NSC Daily Price Character
Steady · 48.7% historical win rate (green days). Streaks & record days.
NSC Buybacks
0.44% TTM buyback yield. Shareholder yield & SBC comparison.
NSC Stock Split History
3 splits on record. Dates, ratios, and cumulative multiple.
NSC Dividend Calculator
How much dividend income would $1,000 have earned? Calculate from any date.
NSC Dividend Forecast
Project future income with DRIP, growth assumptions, and optional monthly contributions.
NSC Dividend Capture
Historical pre-ex touch stats, gap distribution, after-tax calculator, and a backtest simulator (limit-order vs MOC exit).
NSC Financials
Revenue, EPS, EBITDA, market cap, debt and balance sheet history with annual and quarterly data.