OREANDA-NEWS. Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors voted today to increase the quarterly dividend on the company's common shares by 10 percent to 55 cents per share. The increased dividend is payable March 30, 2015, to shareholders of record February 27, 2015.

The Board also approved the Company's 2015 capital program of approximately USD 4.3 billion, up about USD 200 million versus 2014, driven primarily by equipment acquisitions and infrastructure investments. Spending on Positive Train Control is also expected to increase to USD 450 million, versUSD 385 million in 2014.

"As we generate strong cash flow, we are returning more cash to our shareholders while also making significant capital investments that add value for our customers," said Rob Knight, Union Pacific Chief Financial Officer. "We invest today for the opportunity to drive further returns for our shareholders in the future."

Shareholders should note that the payment date of March 30, 2015, at the end of the first quarter, reflects a change in the Company's prior practice of making dividend payments at the beginning of the subsequent quarter. This new timing better aligns the cash payment of the dividend with the financial results of the quarter for which it was declared.

Union Pacific has paid dividends on its common stock for 116 consecutive years.