August 1, 2008
U.P. Begins Track Improvements From Cheyenne to Hanna
By Bill McCarthy, Wyoming Tribune-Eagle
Aug. 1--CHEYENNE -- Union Pacific Railroad begins work today on $12 million in track improvements between Cheyenne and Hanna.
The improvements are not related to Hanna's coal fields or a proposed coal gasification plant scheduled for the area.
Union Pacific spokesman Mark Davis said, "This is normal maintenance that we do across the system."
The track rolls south out of Hanna following U.S. Highway 287/Wyoming Highway 30 to Laramie, then east to Cheyenne over Cheyenne pass.
Wyoming Department of Transportation spokespeople said they expect no significant impact on automotive traffic from the project.
The work that begins today is scheduled to be completed by Oct. 1.
Union Pacific plans to invest $3.1 billion on capital projects in 2008 that include $1.6 billion to maintain and improve track infrastructure across its more than 32,300-mile system.
Union Pacific Corporation, whose stock is traded on New York Stock Exchange, also announced Wednesday that its directors voted to increase the quarterly dividend on the company's common stock by 5 cents or 23 percent, to 27 cents per share.
The increased dividend is payable Oct. 1.
The dividend announcement follows a 26 percent increase in the company's fourth-quarter 2007 dividend and is the third increase in the past 18 months, according to a news release.
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