11:40 AM EDT, 09/19/2024 (MT Newswires) -- Union Pacific ( UNP ) expects revenue, excluding fuel surcharges, to grow faster than volume, excluding coal, over the next three years, which will outpace the markets it serves, according to a regulatory filing Thursday.

The railroad company said at its investor day that it expects a compound annual growth rate for earnings per share in the high single to low double-digit range. Over the next three years, it forecasts annual capital investments of about $3.5 billion to $3.7 billion.

Union Pacific ( UNP ) also expects pricing dollars to positively impact its operating ratio starting in 2025.

The company said it plans annual share repurchases of $4 billion to $5 billion starting in 2025 and targets a dividend payout ratio of about 45% of earnings.

Shares of Union Pacific ( UNP ) were down 1.3% in recent trading activity.

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