11-17-2016, 02:58 PM
OMAHA, Neb., Nov. 17, 2016 /PRNewswire/ -- Union Pacific Corporation (UNP) (NYSE: UNP) announced that its Board of Directors today approved the early renewal of its share repurchase program, authorizing the repurchase of up to 120 million common shares by December 31, 2020. This new authorization is effective January 1, 2017 and replaces the current authorization, which will now expire on December 31, 2016, one year earlier than its original expiration date. The new four year authorization allows for the repurchase of another 15 percent of current outstanding shares.
In addition, the Board also voted to increase the quarterly dividend on the Company's common shares by 10 percent to 60.5 cents per share. The increased dividend is payable December 29, 2016, to shareholders of record as of November 30, 2016. Union Pacific has paid dividends on its common stock for 117 consecutive years.
In addition, the Board also voted to increase the quarterly dividend on the Company's common shares by 10 percent to 60.5 cents per share. The increased dividend is payable December 29, 2016, to shareholders of record as of November 30, 2016. Union Pacific has paid dividends on its common stock for 117 consecutive years.