CSX Corporation announced that its Board of Directors authorized a 10% increase in its quarterly dividend along with an increase to the current share repurchase program, to $5 billion.
Wabtec Corporation announced it has signed a contract worth about $62 million to design, install, test and commission Positive Train Control (PTC) for the Central Florida Rail Corridor, which operates the SunRail commuter rail service.
The Association of American Railroads today said it supports President Trump’s efforts to begin the process of developing infrastructure legislation.
Railway Age is now accepting entries for its annual Short Line/Regional Railroad of the Year competition. Short lines and regionals—and there are more than 600 of them—are invited to submit entries describing outstanding achievement in one or a combination of areas.
Heath Hall, the acting administrator of the Federal Railroad Administration, the nation’s rail safety watchdog, resigned Feb. 11 amid allegations that he was working a second job as a public relations consultant.
Caltrans released details surrounding $173.4 million in grants awarded to 57 projects by the California Transportation Commission. Out of the pot of funds awarded, $96.4 million will go toward 11 state rail projects.
Short line operator Genesee & Wyoming said North America operating revenues in the fourth quarter decreased 0.6% to $320.2 million from $322.2 million for the year-ago period, as freight-related revenues declined $11.5 million, partially offset by an increase of $9.3 million in freight revenues.
The regional and short line railroad investment tax credit (known as 45G for its provision in the Internal Revenue Code) was signed into law by President Trump following its unexpected insertion into the massive two-year Bipartisan Budget Act of 2018 passed in the predawn hours of Friday, Feb. 9, by the House and Senate.
BNSF Railway plans to spend $160 million in Washington state during 2018. The state capital plan is part of its larger $3.3 billion 2018 capital plan.
Montreal’s futuristic, for-profit passenger railway system, Réseau express métropolitain (REM), moved from concept to concrete Feb. 8 with the award of $C6.3 billion of construction contracts by its owner-operator, Caisse de dépot et placement, Quebec’s huge public pension fund.