Union Pacific (UNP) Dividend
Union Pacific Corporation · Industrials · Railroads · quarterly payer
As of Nov 5, 2026, Union Pacific (UNP) pays a quarterly dividend of $1.42 per share, or $5.68 a year, a 1.84% yield at its $302.40 share price. It pays every quarter, usually in March, June, September and December. It has raised its dividend 19 years in a row and has a dividend safety grade of A.
Forward Yield
1.84%
Annual Dividend
$5.68
Payout Ratio
43%
5-Yr Growth
7.0%
Ex-Date
Aug 31, 2026
Frequency
Quarterly
Key facts about UNP's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Union Pacific Corporation (UNP) has a forward dividend yield of 1.84%, based on an annual dividend of $5.68 per share and a share price of $302.40.
- As of Nov 5, 2026, UNP's dividend safety grade from SmarterDividends is A (90 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Union Pacific Corporation (UNP) has raised its dividend for 19 consecutive years as of Nov 5, 2026.
- UNP last cut its regular dividend in 1998.
- UNP's most recent ex-dividend date was Aug 31, 2026, for a dividend of $1.42 per share.
- As of Nov 5, 2026, UNP pays out 43% of its trailing 12-month earnings as dividends (its payout ratio).
- UNP's dividend has grown at an average rate of 7.0% a year over the past five years.
- As of Nov 5, 2026, UNP's 1.84% yield is 18% below its five-year average yield of 2.24%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for UNP is $190.06 per share, 37% below the $302.40 share price, so UNP screens as overvalued.
- Union Pacific Corporation (UNP) pays its dividend quarterly, 4 times a year.
- Union Pacific Corporation (UNP) has raised its regular dividend 37 times and cut it 1 time across the 187 payments on record since 1980. Its most recent change was a 2.9% increase to $1.42 per share, going ex-dividend on Aug 31, 2026. The last cut went ex-dividend on Mar 9, 1998.
Cite this page
SmarterDividends, "UNP Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/UNP
Is UNP a good dividend stock?
YesUnion Pacific Corporation (UNP) pays a quarterly dividend yielding 1.84% ($5.68/yr), with 19 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 19 consecutive years of dividend growth
- Comfortable payout ratio (43%)
- Strong 7.0% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 1998
Key Data
- Dividend Yield
- 1.84%
- Payout Ratio
- 43%
- Annual Dividend
- $5.68
- 5-Yr Avg Growth
- 7.0%
- Ex-Dividend Date
- Aug 31, 2026
- Years of Growth
- 19
- Frequency
- quarterly
- Beta
- 0.84
- Market Cap
- $179.6B
- P/E Ratio
- 23.6
- 5-Yr Total Return
- 29%
- 52-Week Range
- $216.32 – $315.99
- Dividend Safety
- A · 90/100
- Ever Cut?
- Yes (1998)
UNP dividend raises and cuts
Union Pacific Corporation (UNP) has raised its regular dividend 37 times and cut it 1 time across the 187 payments on record since 1980. Its most recent change was a 2.9% increase to $1.42 per share, going ex-dividend on Aug 31, 2026. The last cut went ex-dividend on Mar 9, 1998.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Aug 31, 2026 | Raise | $1.38 → $1.42 | +2.9% |
| Aug 29, 2025 | Raise | $1.34 → $1.38 | +3.0% |
| Aug 30, 2024 | Raise | $1.30 → $1.34 | +3.1% |
| May 27, 2022 | Raise | $1.18 → $1.30 | +10.2% |
| Dec 17, 2021 | Raise | $1.07 → $1.18 | +10.3% |
| May 27, 2021 | Raise | $0.970 → $1.07 | +10.3% |
| Aug 29, 2019 | Raise | $0.880 → $0.970 | +10.2% |
| Feb 27, 2019 | Raise | $0.800 → $0.880 | +10.0% |
| Aug 30, 2018 | Raise | $0.730 → $0.800 | +9.6% |
| Feb 27, 2018 | Raise | $0.665 → $0.730 | +9.8% |
| Nov 29, 2017 | Raise | $0.605 → $0.665 | +9.9% |
| Nov 28, 2016 | Raise | $0.550 → $0.605 | +10.0% |
Show all 38 changes since 1980
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Feb 25, 2015 | Raise | $0.500 → $0.550 | +10.0% |
| Aug 27, 2014 | Raise | $0.455 → $0.500 | +9.9% |
| Feb 26, 2014 | Raise | $0.395 → $0.455 | +15.2% |
| Aug 28, 2013 | Raise | $0.345 → $0.395 | +14.5% |
| Nov 28, 2012 | Raise | $0.300 → $0.345 | +15.0% |
| Nov 28, 2011 | Raise | $0.238 → $0.300 | +26.3% |
| May 26, 2011 | Raise | $0.190 → $0.238 | +25.0% |
| Nov 26, 2010 | Raise | $0.165 → $0.190 | +15.2% |
| May 26, 2010 | Raise | $0.135 → $0.165 | +22.2% |
| Aug 27, 2008 | Raise | $0.110 → $0.135 | +22.7% |
| Nov 27, 2007 | Raise | $0.0875 → $0.110 | +25.7% |
| Feb 26, 2007 | Raise | $0.0750 → $0.0875 | +16.7% |
| Dec 8, 2003 | Raise | $0.0575 → $0.0750 | +30.4% |
| Dec 9, 2002 | Raise | $0.0500 → $0.0575 | +15.0% |
| Mar 9, 1998 | Cut | $0.108 → $0.0500 | −53.5% |
| Dec 16, 1996 | Raise | $0.0723 → $0.108 | +48.7% |
| Sep 8, 1994 | Raise | $0.0672 → $0.0723 | +7.5% |
| Sep 1, 1993 | Raise | $0.0622 → $0.0672 | +8.1% |
| Sep 2, 1992 | Raise | $0.0572 → $0.0622 | +8.8% |
| Sep 10, 1991 | Raise | $0.0525 → $0.0572 | +8.8% |
| Dec 6, 1990 | Raise | $0.0487 → $0.0525 | +7.8% |
| Dec 7, 1989 | Raise | $0.0462 → $0.0487 | +5.5% |
| Sep 8, 1988 | Raise | $0.0420 → $0.0462 | +10.0% |
| Nov 26, 1986 | Raise | $0.0378 → $0.0420 | +11.1% |
| Nov 25, 1981 | Raise | $0.0336 → $0.0378 | +12.5% |
| Nov 26, 1980 | Raise | $0.0294 → $0.0336 | +14.3% |
Frequently Asked Questions
Is UNP a good dividend stock?
Yes. Union Pacific Corporation (UNP) pays a quarterly dividend yielding 1.84% ($5.68/yr), with 19 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is UNP undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, UNP's fair value is about $190.06 versus a $302.40 share price — so it looks overvalued (-37% vs. fair value).
Is UNP's dividend safe?
UNP has a dividend-safety grade of A (90/100), based on its payout coverage, free-cash-flow, 19-year growth streak, a dividend cut in 1998, debt and yield-versus-history.
What is UNP's fair value?
Our blended fair-value estimate for UNP is about $190.06 per share, about 37% below the current $302.40 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is UNP a buy, hold, or sell?
We don't issue formal ratings, but on the data UNP screens as "yes" and overvalued. Union Pacific Corporation (UNP) pays a quarterly dividend yielding 1.84% ($5.68/yr), with 19 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will UNP cut its dividend?
UNP earns a dividend-safety grade of A (90/100), and has cut its dividend before (last in 1998). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does UNP pay a dividend?
Yes. Union Pacific Corporation pays a quarterly dividend of about $5.68 per share annually, a forward yield of roughly 1.84%.
How much dividend does 100 shares of UNP pay?
At $5.68 per share a year, 100 shares of UNP pay $568.00 a year in dividends before tax, about $142.00 each quarter. Buying them costs about $30,240 at the Nov 5, 2026 price.
What is UNP's dividend yield?
As of Nov 5, 2026, UNP's forward dividend yield is 1.84%, based on a $5.68 annual dividend and a $302.40 share price.
What is UNP's dividend per share?
As of Nov 5, 2026, UNP pays $5.68 per share per year, distributed on a quarterly basis.
What is UNP's dividend payout ratio?
As of Nov 5, 2026, UNP's payout ratio is 43% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has UNP grown its dividend?
As of Nov 5, 2026, UNP has increased its dividend for 19 consecutive years.
When is the next UNP ex-dividend date?
As of Nov 5, 2026, UNP's next ex-dividend date hasn't been announced. The most recent was Aug 31, 2026, for $1.42 per share.
UNP Price — Last 12 Months
Daily close
Price Return
1 Year
+31%
3 Years
+35%
5 Years
+29%
52-Week Range
$216.32 – $315.99
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is UNP worth?
Overvaluedmedium confidenceOur blended fair-value estimate for Union Pacific Corporation is $190.06 per share, versus a market price of $302.40. That implies 37% of downside.
Fair Value
$190.06
Current Price
$302.40
Downside
-37%
Margin of Safety
-59%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 19.0% annual free-cash-flow growth. We model 9.3% — so the price already assumes faster growth than we think is likely.
Assumptions: 9.1% discount rate (CAPM), 9.3% growth for five years fading to 2.5% over the next five, $12.82 EPS, $5.68 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
UNP Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full UNP dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 31, 2026 | Sep 30, 2026 | $1.4200 | regular |
| May 29, 2026 | Jun 30, 2026 | $1.3800 | regular |
| Feb 27, 2026 | Mar 31, 2026 | $1.3800 | regular |
| Dec 5, 2025 | Dec 30, 2025 | $1.3800 | regular |
| Aug 29, 2025 | Sep 30, 2025 | $1.3800 | regular |
| May 30, 2025 | Jun 30, 2025 | $1.3400 | regular |
| Feb 28, 2025 | Mar 31, 2025 | $1.3400 | regular |
| Dec 9, 2024 | Dec 30, 2024 | $1.3400 | regular |
| Aug 30, 2024 | Sep 30, 2024 | $1.3400 | regular |
| May 31, 2024 | Jun 28, 2024 | $1.3000 | regular |
| Feb 28, 2024 | Mar 29, 2024 | $1.3000 | regular |
| Dec 7, 2023 | Dec 28, 2023 | $1.3000 | regular |
| Aug 30, 2023 | Sep 29, 2023 | $1.3000 | regular |
| May 30, 2023 | Jun 30, 2023 | $1.3000 | regular |
Income Calculator
At $5.68 / yr per share
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