Diamonds and Dogs
Railroads keep rolling. Kansas City Southern (KSU) rose a percent to a new 52 week high after raising their dividend and increasing their share buyback program. The board increased the quarterly dividend on the common stock from 33 cents to 36 cents a share. The 8.3% dividend hike will bring the company's yield to 1.35%, assuming a steady share price. Kansas City Southern also replaced its $500 million share buyback program with a new $800 million plan. The prior plan was completed in this year's second quarter after being authorized in 2015.
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