BNSF Reports Lower 2Q Income; Sets 25% Dividend Boost
Burlington Northern Santa Fe Corp. said Thursday its second-quarter profit fell to $350 million, or $1 a share, from $433 million, or $1.20, a year earlier.
The western freight railroad’s freight revenue rose 16% to $4.35 billion, it said in a statement.
BNSF also said it will raise its quarterly dividend by 25%, to 40 cents per share. The 8-cent increase will be payable Oct. 1 to shareholders of record as of Sept. 10.
Consumer products revenue, which includes intermodal, rose 12% to $1.57 billion.
BNSF said its business units also benefited from increased fuel surcharges driven by higher fuel prices.