(The Associated Press circulated the following on July 31.)
OMAHA, Neb. — Union Pacific Corp., the nation’s largest freight railroad operator, on Thursday raised its quarterly dividend by 5 cents, to 27 cents per share.
The company said the increased dividend would be payable Oct. 1 to stockholders of record on Aug. 29.
Last week, Union Pacific reported its second-quarter profit rose 19 percent, to $531 million, as heavy shipments of coal, grain and fertilizer, helped offset higher fuel costs and fewer shipments of autos.
The company last raised the dividend in the fourth quarter of 2007 and has boosted it three times in the past 18 months.
Shares of Union Pacific added 48 cents to $83.73 in morning trading after touching a 52-week high of $84.25 earlier in the session.