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Union Pacific Corporation Announces 10 Percent Dividend Increase for First Quarter 2015 and a $4.3 Billion Capital Plan for 2015
Omaha, Neb., February 5, 2015
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 10 percent to 55 cents per share. The increased dividend is payable March 30, 2015, to shareholders of record February 27, 2015.
The Board also approved the Company's 2015 capital program of approximately $4.3 billion, up about $200 million versus 2014, driven primarily by equipment acquisitions and infrastructure investments. Spending on Positive Train Control is also expected to increase to $450 million, versus $385 million in 2014.
"As we generate strong cash flow, we are returning more cash to our shareholders while also making significant capital investments that add value for our customers," said Rob Knight, Union Pacific Chief Financial Officer. "We invest today for the opportunity to drive further returns for our shareholders in the future."
Shareholders should note that the payment date of March 30, 2015, at the end of the first quarter, reflects a change in the Company's prior practice of making dividend payments at the beginning of the subsequent quarter. This new timing better aligns the cash payment of the dividend with the financial results of the quarter for which it was declared.
Union Pacific has paid dividends on its common stock for 116 consecutive years.
About Union Pacific
Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2005-2014, Union Pacific invested more than $31 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.
Investor contact is Mike Staffenbeal, (402) 544-4227.
The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.
Media Contact
Aaron Hunt
402-544-0100
amhunt@up.com