SAN FRANCISCO (MarketWatch) -- CSX Corp. (CSX) said Wednesday it has authorized the buyback of $2 billion of its common shares. The repurchase program is expected to be completed by the end of 2008, the Jacksonville, Fla.-based railroad and container transport company said. In addition, CSX said it has increased its quarterly dividend 20% to 12 cents a share. The dividend is payable on March 15 to shareholders of record as of March 1, the company said.
http://www.marketwatch.com/news/story/csx-approves-2-bln-buyback/story.aspx?guid=%7B35D72DAF%2D57BC%2D44A5%2D97FF%2DEA86CE3A02B5%7D
Perhaps it is a trend:
SAN FRANCISCO (MarketWatch) -- Union Pacific Corp. on Tuesday said its board has voted to authorize buying back of up to 20 million shares by the end of 2009. The board has also increased the quarterly dividend 17% to 35 cents per share. The transportation company said the dividend is payable April 2 to shareholders as of Feb. 28.
http://www.marketwatch.com/news/story/union-pacific-board-oks-buyback/story.aspx?guid=%7BB939F121%2D4F3B%2D46FB%2D9047%2D89AD9D823BDB%7D
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