OREANDA-NEWS.  Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors voted today to authorize a two-for-one stock split, distributed as a stock dividend. Shareholders of record on May 27, 2014, will receive one additional share of Union Pacific common stock for each common share they hold as of this record date. The stock dividend will be paid on June 6, 2014. This stock dividend will not change the proportionate interest that a shareholder maintains in the Company.

Today, the Board also declared a quarterly dividend of 91 cents per share (45.5 cents per share post-split) on its common stock, payable July 1, 2014, to shareholders of record on June 16, 2014. Union Pacific has paid dividends on its common stock for 115 consecutive years.

The Company also announced Board approval of an additional USD 150 million in capital expenditures this year, bringing the total 2014 capital spending plan to USD 4.1 billion. The additional capital will be used for equipment acquisitions, including 29 more locomotives, as well as additional capacity investment, targeting growth opportunities in the northern region of the railroad.

"We are investing in a future that has never been brighter for Union Pacific," said Jack Koraleski, Union Pacific chief executive officer. "With the strength of our franchise, and our ongoing commitment to safety, service, and efficiency, we are confident in our ability to continue to create value for our customers, and generate strong returns for our shareholders in the years ahead."