CSX Increases 2011 Capital Investment to $2.2B

The CSX Corporation CSX Board of Directors today authorized an increase in 2011 capital investment for certain asset purchases – primarily railcars to meet the growing near- and long-term demand for export coal. As a result, the company now expects to make 2011 capital investments of $2.2 billion, up from the previously announced $2 billion. The increase is consistent with CSX's previously announced intention to reinvest an average of 18 percent of its revenues back into its business through 2015. It also supports the company's near- and long-term financial guidance. Also today, the Board of Directors approved a $0.12 per share quarterly dividend on the company's common stock. The dividend is payable on September 15, 2011, to shareholders of record at the close of business on August 31, 2011.