Union Pacific 2009 Annual Report Download - page 21

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21
PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters, and Issuer
Purchases of Equity Securities
Our common stock is traded on the NYSE under the symbol “UNP”. On May 28, 2008, we completed a
two-for-one stock split, effected in the form of a 100% stock dividend. The stock split entitled all
shareholders of record at the close of business on May 12, 2008, to receive one additional share of our
common stock, par value $2.50 per share, for each share of common stock held on that date. All
references to common shares and per share information have been restated to reflect the stock split for all
periods presented. The following table presents the dividends declared and the high and low closing
prices of our common stock for each of the indicated quarters.
2009 - Dollars Per Share Q1 Q2 Q3 Q4
Dividends $ 0.27 $ 0.27 $ 0.27 $ 0.27
Common stock price:
High 54.66 55.45 64.75 66.73
Low 33.28 39.82 47.47 54.20
2008 - Dollars Per Share
Dividends $ 0.22 $ 0.22 $ 0.27 $ 0.27
Common stock price:
High 65.29 82.76 85.80 71.78
Low 52.66 62.98 67.34 41.84
At January 29, 2010, there were 505,286,368 shares of outstanding common stock and 34,116 common
shareholders of record. On that date, the closing price of the common stock on the NYSE was $60.50. We
have paid dividends to our common shareholders during each of the past 110 years. We declared
dividends totaling $544 million in 2009 and $501 million in 2008. On July 31, 2008, we increased the
quarterly dividend to $0.27 per share, payable beginning on October 1, 2008, to shareholders of record on
August 29, 2008. We are subject to certain restrictions regarding retained earnings with respect to the
payment of cash dividends to our shareholders. The amount of retained earnings available for dividends
increased to $11.7 billion at December 31, 2009, from $10.5 billion at December 31, 2008. See discussion
of this restriction in Management’ s Discussion and Analysis of Financial Condition and Results of
Operations – Liquidity and Capital Resources, Item 7. We do not believe the restriction on retained
earnings will affect our ability to pay dividends, and we currently expect to pay dividends in 2010
comparable to 2009.
Comparison Over One- and Three-Year Periods – The following table presents the cumulative total
shareholder returns, assuming reinvested dividends, over one- and three-year periods for the Corporation,
a peer group index (comprised of Burlington Northern Santa Fe Corporation, CSX Corporation, and
Norfolk Southern Corporation), the Dow Jones Transportation Index (Dow Jones), and the Standard &
Poor’ s 500 Stock Index (S&P 500).
Period UPC
P
eer
Group
D
ow
Jones S&P
500
1 Year (2009) 36.6% 31.1% 18.6% 26.5%
3 Year (2007-2009) 46.0 33.5 (5.5) (15.9)