OMAHA, Neb., Feb. 4, 2016 /PRNewswire/ -- The Board of Directors of Union Pacific Corporation (NYSE: UNP) today approved the company's 2016 capital plan of approximately $3.75 billion, down about $550 million versus 2015. The plan includes $375 million to further implement Positive Train Control.
"Given the decline in volume, we have taken a hard look at our capital plan and continue to invest for safety, productivity and where returns meet our threshold of reinvestability," said Rob Knight, Union Pacific chief financial officer. "These investments will create value for our customers and strong returns for our shareholders in the years ahead."
The Board also declared a quarterly dividend of 55 cents per share on the company's common stock, payable March 31, 2016, to shareholders of record February 29, 2016.
Union Pacific has paid dividends on its common stock for 117 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 2006-2015, Union Pacific invested approximately $33 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.
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SOURCE Union Pacific Corporation