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Union Pacific raises dividend by 15 percent

OMAHA, Neb. (AP) -- Union Pacific is boosting its quarterly dividend by 15 percent to 69 cents.

The railroad said Thursday that the dividend will be paid on Jan. 2 to shareholders of record on Nov. 30.

Last month the Omaha, Neb., company reported that its third-quarter profit climbed 15 percent because price increases and more automotive and chemical shipments helped offset a 12 percent drop in coal shipments.

Shares of Union Pacific Corp. rose 29 cents to $117.75 in afternoon trading.