OMAHA, Neb., Aug. 1, 2013 /PRNewswire/ -- Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors voted today to increase the quarterly dividend on the company's common shares by 14.5 percent, or 10 cents, to 79 cents per share. The increased dividend is payable October 1, 2013, to shareholders of record August 30, 2013. (Logo: http://photos.prnewswire.com/prnh/20110304/LA59497LOGO) "We're generating strong cash flows and have confidence in our ability to continue to earn reinvestible returns on our diverse franchise opportunities," said Rob Knight, Union Pacific chief financial officer. "This enables us to reward our shareholders, while at the same time, support significant capital investments for safety, service, growth, and customer value. This dividend increase is a positive step forward as we focus on our new dividend payout target range of 30 to 35 percent on a declared basis." Union Pacific has paid dividends on its common stock for 114 consecutive years. About Union Pacific Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad links 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2007-2012, Union Pacific invested $18 billion in its network and operations to support America's transportation infrastructure, including a record $3.7 billion in 2012. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.