(The Associated Press circulated the following article on January 30.)
OMAHA, Neb. — Railroad operator Union Pacific Corp. said Tuesday it will repurchase up to 20 million shares of its common stock by the end of 2009.
The company said the new program calls for repurchasing about 7 percent of the company’s 270 million publicly held shares. The company said the timing and volume of the repurchases will be at the management’s discretion.
Union Pacific shares rose 42 cents to $95.98 in afternoon trading on the New York Stock Exchange.