Union Pacific Corporation dividend history

Union Pacific Corporation's dividend was $5.44 a share in fiscal 2025, up 3.0% on the year before. That was 45.3% of net income. It has raised its dividend per share every year since fiscal 2012.

Dividends, buybacks and capital spending

FY2026 Q3 TTM

Buybacks (TTM): $26M
Dividends (TTM): $3.3B
Returned to shareholders: 50%; of free cash flow
Buybacks, last 3 fiscal years: $4.9B
Diluted share count: −0.8%; year over year
Total shareholder yield: 1.8%; dividends 1.8% + buybacks 0.0% of market value
Dividend payout ratio: 43%; of net income paid out
Days sales outstanding: 30 days; receivables vs revenue

Dividends by fiscal year

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Union Pacific Corporation: dividends by fiscal year, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Dividend per share	$0.540	$0.655	—	$1.25	$1.48	$1.91	$2.20	$2.25	$2.48	$3.06	$3.70	$3.88	$4.29	$5.08	$5.20	$5.28	$5.44	—
Dividend per share growth	—	+21.3%	—	—	+18.9%	+29.1%	+15.2%	+2.5%	+10.0%	+23.4%	+20.9%	+4.9%	+10.6%	+18.4%	+2.4%	+1.5%	+3.0%	—
Dividends paid	544	602	837	1,146	1,333	1,632	2,344	1,879	1,982	2,299	2,598	2,626	2,800	3,159	3,173	3,213	3,236	3,302
Share buybacks	0	1,249	1,418	1,474	2,218	3,225	3,465	3,105	4,013	8,225	5,804	3,705	7,291	6,282	705	1,505	2,679	26
Dividends ÷ net income	28.8%	21.7%	25.4%	29.1%	30.4%	31.5%	49.1%	44.4%	18.5%	38.5%	43.9%	49.1%	42.9%	45.1%	49.7%	47.6%	45.3%	43.3%
Dividends ÷ free cash flow	64.0%	37.1%	31.0%	47.3%	40.1%	53.7%	87.0%	46.7%	49.6%	43.8%	50.4%	46.8%	45.9%	55.0%	66.5%	54.5%	58.8%	49.3%

Dividend per share is the amount declared for the fiscal year as stated in the company's filings (including any special dividend), restated for stock splits and checked against the cash dividends paid. Dividends paid and buybacks are cash amounts; the last-twelve-months column can include an extra payment when a quarter-end date moves.

Compare with peers

Head to head: CSX vs UNP NSC vs UNP

More: Rail Transportation stocks compared, Industrials sector, rankings of US companies

Figures from Union Pacific Corporation's SEC filings (10-K and 10-Q), retrieved October 23, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Union Pacific Corporation.