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.
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;
and its ability to generate financial returns, improve network
performance and cost efficiency, and provide 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.
Forward-looking statements should not be read as a guarantee
of future performance or results, and will not necessarily be
accurate indications of the times that, or by which, such
performance or results will be achieved. Forward-looking
information, including expectations regarding operational and
financial improvements and the Company's future performance or
results are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in the statement. Important factors, including risk
factors, could affect the Company's and its subsidiaries' future
results and could cause those results or other outcomes to differ
materially from those expressed or implied in the forward-looking
statements. Information regarding risk factors and other
cautionary information are available in the Company's Annual Report
on Form 10-K for 2014, which was filed with the SEC on February 6, 2015. The Company updates
information regarding risk factors if circumstances require such
updates in its periodic reports on Form 10-Q and its subsequent
Annual Reports on Form 10-K (or such other reports that may be
filed with the SEC).
Forward-looking statements speak only as of, and are based
only upon information available on, the date the statements were
made. The Company assumes no obligation to update
forward-looking information to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information. If the Company does update one or more
forward-looking statements, no inference should be drawn that the
Company will make additional updates with respect thereto or with
respect to other forward-looking statements. References to
our website are provided for convenience and, therefore,
information on or available through the website is not, and should
not be deemed to be, incorporated by reference herein.
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SOURCE Union Pacific Corporation