Union Pacific 2011 Annual Report Download - page 20

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20
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 New York Stock Exchange (NYSE) under the symbol “UNP”. The
following table presents the dividends declared and the high and low closing prices of our common stock
for each of the indicated quarters.
2011 - Dollars Per Share Q1 Q2 Q3 Q4
Dividends $ 0.38 $ 0.475 $ 0.475 $ 0.60
Common stock price:
High 99.50 105.60 107.89 106.60
Low 90.66 92.80 79.58 77.73
2010 - Dollars Per Share Q1 Q2 Q3 Q4
Dividends $ 0.27 $ 0.33 $ 0.33 $ 0.38
Common stock price:
High 74.35 78.61 83.08 95.78
Low 60.41 65.99 66.84 79.32
At January 27, 2012, there were 480,067,865 shares of common stock outstanding and 33,061 common
shareholders of record. On that date, the closing price of the common stock on the NYSE was $114.90.
We have paid dividends to our common shareholders during each of the past 112 years. We declared
dividends totaling $938 million in 2011 and $653 million in 2010. On May 5, 2011, we increased the
quarterly dividend to $0.475 per share, payable beginning on July 1, 2011, to shareholders of record on
May 31, 2011. On November 17, 2011, we again increased the quarterly dividend to $0.60 per share,
payable beginning January 2, 2012 to shareholders of record on November 30, 2011. 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 $13.8 billion at
December 31, 2011, from $12.9 billion at December 31, 2010. (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 2012.
Comparison Over One- and Three-Year Periods – The following table presents the cumulative total
shareholder returns, assuming reinvestment of dividends, over one- and three-year periods for the
Corporation (UNP), a peer group index (comprised of CSX Corporation and Norfolk Southern
Corporation), the Dow Jones Transportation Index (DJ Trans), and the Standard & Poor’s 500 Stock
Index (S&P 500).
Period UNP Peer Group DJ Trans S&P 500
1 Year (2011) 16.6% 9.0% 0% 2.1%
3 Year (2009-2011) 135.1 84.7 50.3 48.6