CSX Corporation (NASDAQ: CSX) today announced that its Board of Directors has approved a 3-for-1 stock split to be distributed to shareholders as a stock dividend.

Each shareholder of record at the close of business on June 18, 2021, will receive two additional shares of CSX common stock for each share held as of this record date. The new shares will be distributed on June 28, 2021.

The regular, quarterly cash dividend of $0.28 per share payable on June 15, 2021, will not be impacted by the stock split. Based on the current dividend rate, the post-split quarterly dividend on the company's common stock would be $0.093* per share.

*On a post-split basis, the dividend will be carried out six decimal places to most closely approximate the current dividend amount.