Union Pacific Corporation announced today that its board of directors increased the quarterly dividend on the company’s common shares by 26 percent to 60 cents per share.
“We’re generating record free cash flows and making significant capital investments to add value for customers, all of which is driving improved shareholder returns,” said Jim Young, Union Pacific chairman and chief executive officer.
“We remain confident in our business strategy going forward, allowing us to increase the dividend for the second time this year,” Young said. “Dividends per share in 2011 have increased a total of 58 percent, a significant step toward achieving our target payout ratio of approximately 30 percent on a declared basis.”
Union Pacific Railroad links 23 states in the western two-thirds of the country.
