OMAHA, Neb. — Union Pacific Corp. announced that its Board of Directors voted to increase the quarterly dividend on the company’s common shares by 15 percent to 38 cents per share.
The increased dividend is payable January 3, 2011, to stockholders of record on Nov. 30.
“As we generate strong and growing free cash flow, we are returning more cash to our shareholders,” said Jim Young, Union Pacific chairman and chief executive officer. “UP’s strategy to operate a safe, productive, service-oriented railroad is delivering record results, allowing us to increase the dividend for the second time in 2010. For the year, the annual dividend increase totals 41 percent, reflecting both our confidence in the future and our commitment to increasing shareholder returns.”
Union Pacific has paid dividends on its common stock for 111 consecutive years.