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Union Pacific Sets 2-for-1 Stock Split
Railroad Plans Additional Share Repurchases
Union Pacific Corp. said Thursday its board authorized a two-for-one stock split, effective May 28 to shareholders of record as of May 12.
The action will not change the proportionate interest an individual shareholder maintains in the company, UP said in a statement.
Separately, the board authorized the repurchase of 20 million common shares, or 40 million shares post-split, by March 31, 2011. That is a new authorization in addition to the 20 million-share repurchase program begun in January 2007, UP said.
Since then, UP has repurchased 16 million shares of common stock, returning $1.9 billion to shareholders, the company said.