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Union Pacific and Norfolk Southern’s application more than meets that standard; it provides compelling evidence that the transaction will deliver substantial benefits for customers, employees and communities.

Union Pacific Corporation announced that its Board of Directors today voted to increase the quarterly dividend on the Company’s common shares by 3% to $1.42 per share. The dividend is payable September 30, 2026, to shareholders of record August 31, 2026.

Union Pacific and Norfolk Southern enhanced their merger application by offering customer protections that go beyond those provided in any prior rail merger. The new commitments are provided with the supplemental information requested by the STB when it accepted the companies’ merger application as complete on May 28, 2026.