Show Union Pacific Cuts Dividend Rate NEW The YORK May 12 P 12 JP- JP The Union Pacific railroad today declared a divi dividend divi- divi fend of on the common stock Previously the company paid quarterly j This was the first dividend reduction reduction tion by Union Pacific in the current depression The common had been paying 10 annually since 1918 prior to 0 which year jear ear the amounts varied front Irom to 1150 since 1900 the largest payment having been made madeia madei i ia 1917 when the total included a extra atra Union Unton Pacific earned a share oa on its common in 1931 against 15 1563 63 In 1930 Today's dividend is payable July 1 to stock of record June 1 |