OMAHA, Neb., Feb. 2, 2017 /PRNewswire/ -- The Board of Directors of Union Pacific Corporation (NYSE: UNP) today approved the company's 2017 capital plan of approximately $3.1 billion, down about $400 million versus 2016. The plan includes $300 million to further implement Positive Train Control.
"The 2017 capital plan reflects our continued commitment to safety, productivity and future profitable growth," said Rob Knight, Union Pacific chief financial officer. "Our capital investments serve a critical role in adding value for our customers and shareholders."
The Board also declared a quarterly dividend of 60.5 cents per share on the company's common stock, payable March 31, 2017, to shareholders of record February 28, 2017.
Union Pacific has paid dividends on its common stock for 118 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 2007-2016, Union Pacific invested approximately $34 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.
This presentation and related materials contain statements about the Company's future that are not statements of historical fact, including specifically the statements regarding the Company's expectations with respect to economic conditions and demand levels; its ability to generate financial returns, improve network performance and customer service; implementation of corporate strategies; and providing excellent service to its customers and returns to its shareholders. These statements are, or will be, forward-looking statements as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements also generally include, without limitation, information or statements regarding: projections, predictions, expectations, estimates or forecasts as to the Company's and its subsidiaries' business, financial, and operational results, and future economic performance; and management's beliefs, expectations, goals, and objectives and other similar expressions concerning matters that are not historical facts.
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SOURCE Union Pacific Corporation