Union Pacific continues to make significant progress implementing positive train control (PTC). The company will meet all required deadlines for installing PTC on its network. As allowed by federal law, Union Pacific will continue to implement, test and refine the complex suite of technologies comprising the system in 2019-20.
Union Pacific's required PTC footprint is the largest of all North American railroads, encompassing more than 17,000 route miles, roughly one-third of all U.S. PTC miles and 45 percent more required miles than the next largest railroad. Union Pacific is in regular contact with the Federal Railroad Administration officials regarding its PTC progress.
Installing and implementing PTC across the U.S. rail network is costly and complex. One of the most challenging parts of PTC implementation is ensuring system interoperability among all U.S. rail lines and locomotives. Given the various readiness levels of North American freight and passenger railroads, including publicly funded commuter lines and short lines, it is important that all railroads continue working together to maintain the health, safety, resiliency, and fluidity of the rail network during PTC implementation.
Union Pacific's third quarter 2018 accomplishments, between July 1 and September 30, 2018, included:
Preparing additional track segments for PTC operations, bringing the total number of track segments to 182 or 100 percent complete, a slight increase from reported segments in Union Pacific's August 2018 update. These track segments are equipped with wayside devices such as signals, switches and radios and have defined GPS coordinates, which identify thousands of precise locations for system wide PTC coordination. Educating 1,329 additional employees on PTC operations, bringing the total number of employees trained to 26,004 or 98 percent. Training materials are tailored to a variety of employee roles, including engineer, conductor, dispatcher, maintenance of way/engineering, mechanical, signal, telecom and information technologies. Increasing by 393 the number of implemented PTC route miles, bringing the total number of route miles in PTC operations to 11,920 or 70 percent. Union Pacific implemented these route miles in July, the beginning of the third quarter. Therefore, these same numbers were also stated in the August 2018 PTC Update,
In other news The Board of Directors of Union Pacific Corporation (NYSE: UNP) this week declared a quarterly dividend of 80 cents per share on the company's common stock, payable December 28, 2018, to shareholders of record November 30, 2018.