Providence & Worcester Railroad Co.

The former Providence and Worcester Railroad headquarters at 75 Hammond St. in Worcester has been sold by the railroad for $1.85 million.

Providence and Worcester Railroad Co. has been purchased by Genesee & Wyoming Inc. for approximately $126 million.

The Providence and Worcester Railroad Company's CEO and chairman is recovering after undergoing surgery, the company said Monday.

Providence & Worcester Railroad has been awarded $455,691 from the Massachusetts Department of Transportation (MassDOT) for improvements...

Tons of freight roll daily into and out of Worcester on tracks used by CSX, Pan Am Railways and the Providence & Worcester railroads. As the economy continues to bounce back from the Great Recession, freight transportation is growing as well, bringing more goods of all kinds through the region on the rails — everything from cars and toilet paper to flammable liquids and hazardous materials.

Providence & Worcester Railroad stockholders will receive a 4-cents-per-share dividend later this month, the company announced.

Providence & Worcester Railroad has entered into an eight-year collective bargaining agreement with the Transportation Communications International Union (TCU), which will include a compounded annual pay increase of 24 percent over the eight years for its workforce of clerical and dispatch employees, the union said.

Increased freight activity led to 11-percent revenue growth for Providence & Worcester Railroad in the third quarter, and net income of $593,000 after a third-quarter 2012 loss of $381,000.

The Providence & Worcester Railroad Co. will pay a 4-cents-per-share dividend, it announced.