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Norfolk Southern announces homeowner compensation plan after East Palestine derailment

Railroad giant Norfolk Southern Corp. (NSC) on Monday announced an interim plan to compensate eligible homeowners whose home values suffered following the February derailment of a train carrying toxic chemicals in East Palestine, Ohio. Under the program, residents within a defined boundary near the Ohio-Pennsylvania border "who have sold their homes since February 3, currently have their homes on the market, or will put their homes on the market, are eligible to be compensated for any difference between their home's market value and its sale price," the company said. The interim program will also be available for future sales, as Norfolk Southern works on a longer-term plan. Property owners who qualify "will work with independent appraisers to assess the value of their home, and with the Norfolk Southern Family Assistance Center (FAC) after the sale to recoup any difference." Shares were unchanged after hours.

-Bill Peters

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09-18-23 1718ET

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