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Union Pacific (UNP) Approves 2-for-1 Stock Split, 20 Million Share Buyback and Declares Quarterly Dividend

May 1, 2008 2:35 PM EDT Send to a Friend
Union Pacific Corporation (NYSE: UNP) has authorized a two-for-one (2-for-1) stock split, distributed as a stock dividend. Shareholders will receive one additional share of Union Pacific common stock for each common share held. The stock dividend will be paid on May 28, 2008, to shareholders of record on May 12, 2008. This action will not change the proportionate interest that a shareholder maintains in the company.

Separately, the Board of Directors also authorized the repurchase of 20 million common shares (40 million shares post-split) by March 31, 2011. This new authorization is in addition to the 20 million share repurchase program initiated in January 2007.

Today, the Board of Directors also declared a quarterly dividend of 44 cents per common share (22 cents per share post-split) for the second quarter of 2008. The dividend is payable on July 1, 2008, to shareholders of record May 30, 2008. Union Pacific has paid dividends on its common stock for 109 consecutive years.[SM]



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