UNP · Earnings call · 2026Q3T · Full report

Dividend Increase

UNION PACIFIC CORP · 2026-10-22 · Importance 18 · Surprise 14

Union Pacific increased its third-quarter 2026 dividend by 3%. Management described this as the 20th consecutive year of an annual dividend increase. The dividend was paid while the company generated $8.3 billion of cash from operations and $2.4 billion of free cash flow after network reinvestment.

Key facts

• UNION PACIFIC CORP's free cash flow totaled $2.4 billion after network reinvestment and a 3% increase in its third-quarter dividend; it was the 20th consecutive year of an annual dividend raise.