UNP Union Pacific Corp

   By Erin McCarthy 
 

Union Pacific Corporation (UNP) unveiled a two-for-one stock split and said it will increase this year's capital spending to $4.1 billion.

The company said shareholders of record will receive one additional share of Union Pacific common stock for each common share they hold.

The company's board approved an additional $150 million in capital expenditures this year, bringing total capital spending to $4.1 billion. The company said the added capital will be used to buy equipment, including 29 more locomotives, as well as additional capacity investment aimed at the northern region of the railroad.

Its board also approved a quarterly dividend of 91 cents a share, or 45.5 cents a share after the stock split, payable in July. It was the same amount declared in February.

Write to Erin McCarthy at erin.mccarthy@wsj.com

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