KCS Holds Annual Meeting of Stockholders, Elects Ten Directors and Announces Preferred and Common Dividends

Rhea-AI Summary

Kansas City Southern (KCS) held its Annual Meeting on May 20, 2021, with 89% of outstanding stock represented. Key actions included the election of board members and the ratification of PricewaterhouseCoopers as the independent accounting firm for 2021. The Board declared a regular dividend of $0.25 per share on preferred stock and $0.54 per share on common stock, payable on July 6 and July 7, 2021, respectively, to stockholders of record by June 14, 2021. KCS operates rail services across the U.S., Mexico, and Panama.

Positive

• Regular dividend of $0.54 per share on common stock indicates strong financial performance.
• Strong shareholder engagement with 89% participation in the Annual Meeting.

Negative

• None.

Kansas City Southern (KCS) (NYSE:KSU) held its Annual Meeting of Stockholders on May 20, 2021 virtually via live audio webcast. With 89% of KCS’ outstanding common and preferred stock represented in person or by proxy at the meeting, the stockholders:

• elected Lydia I. Beebe, Lu M. Córdova, Robert J. Druten, Antonio O. Garza, Jr., David Garza-Santos, Janet H. Kennedy, Mitchell J. Krebs, Henry J. Maier, Thomas A. McDonnell, and Patrick J. Ottensmeyer to serve on the KCS Board of Directors until the Annual Meeting of Stockholders in 2022;
• ratified the Audit Committee’s selection of PricewaterhouseCoopers LLP as KCS’ independent registered public accounting firm for the year ending December 31, 2021; and
• approved, on an advisory basis, the 2020 compensation of the KCS named executive officers.

In addition, at their meeting today, the Board of Directors declared a regular dividend of $0.25 per share on the outstanding KCS 4% Non-Cumulative Preferred stock. This dividend is payable on July 6, 2021, to stockholders of record at the close of business on June 14, 2021.

The Board of Directors also declared a regular dividend of $0.54 per share on the outstanding KCS common stock. This dividend is payable on July 7, 2021, to stockholders of record at the close of business on June 14, 2021.

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210520006024/en/

FAQ

What is the dividend amount declared by Kansas City Southern on common stock?

Kansas City Southern declared a dividend of $0.54 per share on common stock.

When is the Kansas City Southern dividend payable?

The dividend will be payable on July 7, 2021, to stockholders of record as of June 14, 2021.

What was the participation rate in the Kansas City Southern Annual Meeting?

The participation rate in the Annual Meeting was 89% of outstanding common and preferred stock.

Who was elected to the Board of Directors at the Kansas City Southern Annual Meeting?

Lydia I. Beebe, Lu M. Córdova, Robert J. Druten, and others were elected to serve on the Board of Directors.

What accounting firm was ratified by Kansas City Southern's stockholders?

PricewaterhouseCoopers LLP was ratified as the independent accounting firm for the year ending December 31, 2021.