Norfolk Southern (NSC) Dividend
Norfolk Southern Corporation · Industrials · Railroads · quarterly payer
As of Nov 5, 2026, Norfolk Southern (NSC) pays a quarterly dividend of $1.35 per share, or $5.40 a year, a 1.57% yield at its $333.27 share price. The next ex-dividend date is Nov 6, 2026, paid Nov 20, 2026. It has a dividend safety grade of A.
Forward Yield
1.57%
Annual Dividend
$5.40
Payout Ratio
45%
5-Yr Growth
7.5%
Ex-Date
Nov 6, 2026
Frequency
Quarterly
Key facts about NSC's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Norfolk Southern Corporation (NSC) has a forward dividend yield of 1.57%, based on an annual dividend of $5.40 per share and a share price of $333.27.
- As of Nov 5, 2026, NSC's dividend safety grade from SmarterDividends is A (89 out of 100), which rates the dividend as very safe.
- NSC last cut its regular dividend in 2001.
- NSC's next ex-dividend date is Nov 6, 2026, with payment on Nov 20, 2026. Shares must be owned before that date to receive the dividend.
- As of Nov 5, 2026, NSC pays out 45% of its trailing 12-month earnings as dividends (its payout ratio).
- NSC's dividend has grown at an average rate of 7.5% a year over the past five years.
- As of Nov 5, 2026, NSC's 1.57% yield is 24% below its five-year average yield of 2.06%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for NSC is $307.75 per share, 8% below the $333.27 share price, so NSC screens as fairly valued.
- Norfolk Southern Corporation (NSC) pays its dividend quarterly, 4 times a year.
- Norfolk Southern Corporation (NSC) has raised its regular dividend 41 times and cut it 1 time across the 178 payments on record since 1982. Its most recent change was a 8.9% increase to $1.35 per share, going ex-dividend on Feb 2, 2023. The last cut went ex-dividend on Jan 31, 2001.
- Norfolk Southern (NSC) has declared its first higher dividend of the year in January in 3 of the last 5 years; its most recent raise, 8.9%, was declared on Jan 24, 2023.
Cite this page
SmarterDividends, "NSC Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/NSC
Is NSC a good dividend stock?
YesNorfolk Southern Corporation (NSC) pays a quarterly dividend yielding 1.57% ($5.40/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Comfortable payout ratio (45%)
- Strong 7.5% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 2001
Key Data
- Dividend Yield
- 1.57%
- Payout Ratio
- 45%
- Annual Dividend
- $5.40
- 5-Yr Avg Growth
- 7.5%
- Ex-Dividend Date
- Nov 6, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.18
- Market Cap
- $74.9B
- P/E Ratio
- 27.9
- 5-Yr Total Return
- 29%
- 52-Week Range
- $277.80 – $358.60
- Dividend Safety
- A · 89/100
- Ever Cut?
- Yes (2001)
NSC dividend raises and cuts
Norfolk Southern Corporation (NSC) has raised its regular dividend 41 times and cut it 1 time across the 178 payments on record since 1982. Its most recent change was a 8.9% increase to $1.35 per share, going ex-dividend on Feb 2, 2023. The last cut went ex-dividend on Jan 31, 2001.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Feb 2, 2023 | Raise | $1.24 → $1.35 | +8.9% |
| Feb 3, 2022 | Raise | $1.09 → $1.24 | +13.8% |
| Aug 6, 2021 | Raise | $0.990 → $1.09 | +10.1% |
| Feb 4, 2021 | Raise | $0.940 → $0.990 | +5.3% |
| Aug 2, 2019 | Raise | $0.860 → $0.940 | +9.3% |
| Feb 1, 2019 | Raise | $0.800 → $0.860 | +7.5% |
| Aug 3, 2018 | Raise | $0.720 → $0.800 | +11.1% |
| Feb 1, 2018 | Raise | $0.610 → $0.720 | +18.0% |
| Feb 1, 2017 | Raise | $0.590 → $0.610 | +3.4% |
| Feb 4, 2015 | Raise | $0.570 → $0.590 | +3.5% |
| Jul 30, 2014 | Raise | $0.540 → $0.570 | +5.6% |
| Feb 5, 2014 | Raise | $0.520 → $0.540 | +3.8% |
Show all 42 changes since 1984
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jul 31, 2013 | Raise | $0.500 → $0.520 | +4.0% |
| Aug 9, 2012 | Raise | $0.470 → $0.500 | +6.4% |
| Feb 1, 2012 | Raise | $0.430 → $0.470 | +9.3% |
| Aug 3, 2011 | Raise | $0.400 → $0.430 | +7.5% |
| Feb 2, 2011 | Raise | $0.360 → $0.400 | +11.1% |
| Aug 4, 2010 | Raise | $0.340 → $0.360 | +5.9% |
| Feb 4, 2009 | Raise | $0.320 → $0.340 | +6.3% |
| Jul 30, 2008 | Raise | $0.290 → $0.320 | +10.3% |
| Jan 30, 2008 | Raise | $0.260 → $0.290 | +11.5% |
| Aug 1, 2007 | Raise | $0.220 → $0.260 | +18.2% |
| Jan 31, 2007 | Raise | $0.180 → $0.220 | +22.2% |
| Aug 2, 2006 | Raise | $0.160 → $0.180 | +12.5% |
| Feb 1, 2006 | Raise | $0.130 → $0.160 | +23.1% |
| Aug 3, 2005 | Raise | $0.110 → $0.130 | +18.2% |
| Feb 2, 2005 | Raise | $0.100 → $0.110 | +10.0% |
| Aug 4, 2004 | Raise | $0.0800 → $0.100 | +25.0% |
| Jul 30, 2003 | Raise | $0.0700 → $0.0800 | +14.3% |
| Jul 31, 2002 | Raise | $0.0600 → $0.0700 | +16.7% |
| Jan 31, 2001 | Cut | $0.200 → $0.0600 | −70.0% |
| Feb 5, 1997 | Raise | $0.187 → $0.200 | +7.1% |
| Jan 31, 1996 | Raise | $0.173 → $0.187 | +7.7% |
| Jan 30, 1995 | Raise | $0.160 → $0.173 | +8.3% |
| Aug 2, 1993 | Raise | $0.150 → $0.160 | +6.7% |
| Feb 3, 1992 | Raise | $0.133 → $0.150 | +12.5% |
| Jul 30, 1990 | Raise | $0.120 → $0.133 | +11.1% |
| Jul 31, 1989 | Raise | $0.110 → $0.120 | +9.1% |
| Aug 1, 1988 | Raise | $0.100 → $0.110 | +10.0% |
| Feb 2, 1987 | Raise | $0.0944 → $0.100 | +5.9% |
| Jan 28, 1985 | Raise | $0.0889 → $0.0944 | +6.2% |
| Jan 30, 1984 | Raise | $0.0778 → $0.0889 | +14.3% |
Frequently Asked Questions
Is NSC a good dividend stock?
Yes. Norfolk Southern Corporation (NSC) pays a quarterly dividend yielding 1.57% ($5.40/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is NSC undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NSC's fair value is about $307.75 versus a $333.27 share price — so it looks fairly valued (-8% vs. fair value).
Is NSC's dividend safe?
NSC has a dividend-safety grade of A (89/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2001, debt and yield-versus-history.
What is NSC's fair value?
Our blended fair-value estimate for NSC is about $307.75 per share, about 8% below the current $333.27 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is NSC a buy, hold, or sell?
We don't issue formal ratings, but on the data NSC screens as "yes" and fairly valued. Norfolk Southern Corporation (NSC) pays a quarterly dividend yielding 1.57% ($5.40/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will NSC cut its dividend?
NSC earns a dividend-safety grade of A (89/100), and has cut its dividend before (last in 2001). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does NSC pay a dividend?
Yes. Norfolk Southern Corporation pays a quarterly dividend of about $5.40 per share annually, a forward yield of roughly 1.57%.
How much dividend does 100 shares of NSC pay?
At $5.40 per share a year, 100 shares of NSC pay $540.00 a year in dividends before tax, about $135.00 each quarter. Buying them costs about $33,327 at the Nov 5, 2026 price.
What is NSC's dividend yield?
As of Nov 5, 2026, NSC's forward dividend yield is 1.57%, based on a $5.40 annual dividend and a $333.27 share price.
What is NSC's dividend per share?
As of Nov 5, 2026, NSC pays $5.40 per share per year, distributed on a quarterly basis.
What is NSC's dividend payout ratio?
As of Nov 5, 2026, NSC's payout ratio is 45% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has NSC grown its dividend?
NSC does not currently have a long dividend-growth streak on record.
When is the next NSC ex-dividend date?
As of Nov 5, 2026, the next ex-dividend date on record for NSC is Nov 6, 2026.
NSC Price — Last 12 Months
Daily close
Price Return
1 Year
+17%
3 Years
+57%
5 Years
+29%
52-Week Range
$277.80 – $358.60
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NSC worth?
Fairly valuedlow confidenceOur blended fair-value estimate for Norfolk Southern Corporation is $307.75 per share, versus a market price of $333.27. That implies the stock is roughly fairly priced.
Fair Value
$307.75
Current Price
$333.27
Gap
-8%
Margin of Safety
-8%
How we get there
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 32.5% annual free-cash-flow growth. We model 9.8% — so the price already assumes faster growth than we think is likely.
Assumptions: 10.7% discount rate (CAPM), 9.8% growth for five years fading to 2.5% over the next five, $11.93 EPS, $5.40 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NSC Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full NSC dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 7, 2026 | Aug 20, 2026 | $1.3500 | regular |
| May 8, 2026 | May 20, 2026 | $1.3500 | regular |
| Feb 6, 2026 | Feb 20, 2026 | $1.3500 | regular |
| Nov 7, 2025 | Nov 20, 2025 | $1.3500 | regular |
| Aug 1, 2025 | Aug 20, 2025 | $1.3500 | regular |
| May 2, 2025 | May 20, 2025 | $1.3500 | regular |
| Feb 7, 2025 | Feb 20, 2025 | $1.3500 | regular |
| Nov 1, 2024 | Nov 20, 2024 | $1.3500 | regular |
| Aug 2, 2024 | Aug 20, 2024 | $1.3500 | regular |
| May 2, 2024 | May 20, 2024 | $1.3500 | regular |
| Feb 1, 2024 | Feb 20, 2024 | $1.3500 | regular |
| Nov 2, 2023 | Nov 20, 2023 | $1.3500 | regular |
| Aug 3, 2023 | Aug 21, 2023 | $1.3500 | regular |
| May 4, 2023 | May 20, 2023 | $1.3500 | regular |
Income Calculator
At $5.40 / yr per share
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