Union Pacific board votes to increase quarterly dividend by 26% to US$0.60/share, payable Jan. 2

OMAHA, Nebraska , November 17, 2011 (press release) – Union Pacific Corporation (NYSE: UNP - News) announced that its Board of Directors voted today to increase the quarterly dividend on the company's common shares by 26 percent to 60 cents per share. The increased dividend is payable January 2, 2012 , to stockholders of record on November 30, 2011 .

"We're generating record free cash flows and making significant capital investments to add value for customers, all of which is driving improved shareholder returns," said Jim Young , Union Pacific chairman and chief executive officer. "We remain confident in our business strategy going forward, allowing us to increase the dividend for the second time this year. Dividends per share in 2011 have increased a total of 58 percent, a significant step toward achieving our target payout ratio of approximately 30 percent on a declared basis."

Union Pacific has paid dividends on its common stock for 112 consecutive years.

Union Pacific Corporation owns one of America's leading transportation companies. Its principal operating company, Union Pacific Railroad, links 23 states in the western two-thirds of the country. Union Pacific serves many of the fastest-growing U.S. population centers and provides Americans with a fuel-efficient, environmentally responsible and safe mode of freight transportation. Union Pacific's diversified business mix includes Agricultural Products, Automotive, Chemicals, Energy, Industrial Products and Intermodal. The railroad emphasizes excellent customer service and offers competitive routes from all major West Coast and Gulf Coast ports to eastern gateways. Union Pacific connects with Canada 's rail systems and is the only railroad serving all six major gateways to Mexico , making it North America 's premier rail franchise.

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