The Union Pacific Railroad (NYSE: UNP), the largest railroad network in the United States , announced its decision to split its stock 2-for-1 and distribute it among shareholders.
The distribution means that each shareholder will get one additional Union Pacific share for each common share held.
The dividend will be paid on May 28 to shareholders of record as of May 12.
In addition the company’s board approved the buyback of an additional 20 million shares by March 31, 2011. This initiative is an addition to a 20 million share buyback initiated in January 2007.