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Union Pacific Corp. announced it increased the quarterly dividend on the company’s common shares by 10% to $1.07 per share.
The dividend is payable June 30 to shareholders of record as of May 28, according to the Omaha, Neb.-based company. Union Pacific has paid dividends on its common stock for 122 consecutive years.
“I am pleased to report our dividend increase,” Union Pacific Chief Financial Officer Jennifer Hamann said in a release. “This increase is consistent with the financial guidance outlined at our recent Investor Day to target a dividend payout ratio of 45%.”
The U.S. railroad operates in 23 Western states. — Transport Topics
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