Railroad operator Union Pacific (NYSE:UNP) will pay  a second-quarter dividend of $0.69 per share, the same rate it's paid in the last two quarters after raising the payout 15% from $0.60 per share, the company announced yesterday. 

The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on May 31. Union Pacific has paid dividends for 114 consecutive years and over that time has split its share six times, most recently in 2008.

The regular dividend payment equates to a $2.76-per-share annual dividend yielding 1.8% based on the closing price of Union Pacific's stock on May 16.

UNP Dividend Chart

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