Kansas City Southern Increases Common Stock Dividend and Declares Dividends on 4% Non-Cumulative Preferred Stock
Kansas City Southern's (KCS) (NYSE: KSU) Board of Directors on January 28, 2013 declared a regular dividend of $0.215 per share on the outstanding KCS common stock, which is a 10% increase from the previous quarterly dividend of $0.195 per share. This dividend is payable on April 3, 2013, to common stockholders of record at the close of business on March 11, 2013.
The Board of Directors also declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on April 2, 2013 to preferred stockholders of record at the close of business on March 11, 2013.
“With KCS's consistently strong operational performance, good cash flows and steadily improving balance sheet, the Board has elected to increase the dividend on the Company's common stock,” stated President and Chief Executive Officer David L. Starling. “We believe in KCS's ability to achieve excellent growth over both the short and longer term, and we remain committed to managing an efficient and financially strong company while always seeking to maximize the returns to our shareholders.”
The Board of Directors also set the Annual Meeting of Stockholders to be held in Kansas City, Missouri on Thursday, May 2, 2013. Stockholders of record of KCS's common stock and KCS's 4% non-cumulative preferred stock as of March 4, 2013, will be entitled to notice of the meeting and to vote at such meeting.
Headquartered in Kansas City, Mo., Kansas City Southern is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. Kansas City Southern's North American rail holdings and strategic alliances are primary components of a NAFTA Railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada.
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