Union Pacific Announces Second Dividend Increase in 2010
Omaha, Neb., November 18, 2010 Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors voted today 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 November 30, 2010.
"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.
Union Pacific Corporation owns one of America's leading transportation companies. Its principal operating company, Union Pacific Railroad, links 23 states in the western two-thirds of the country. Union Pacific serves many of the fastest-growing U.S. population centers and provides Americans with a fuel-efficient, environmentally responsible and safe mode of freight transportation. Union Pacific's diversified business mix includes Agricultural Products, Automotive, Chemicals, Energy, Industrial Products and Intermodal. The railroad emphasizes excellent customer service and offers competitive routes from all major West Coast and Gulf Coast ports to eastern gateways. Union Pacific connects with Canada's rail systems and is the only railroad serving all six major gateways to Mexico, making it North America's premier rail franchise.
Investor contact is Jennifer Hamann, (402) 544-4227.
Media contact is Donna Kush, (402) 544-3753.
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