Union Pacific to invest $550 million less in 2016
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The board declared a quarterly dividend of 55 cents per share.
"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. ■