Union Pacific Corp. (UNP) joined smaller peer CSX Corp. (CSX) in boosting its dividend, rewarding investors after more than a year of earnings growth across the nation’s largest publicly traded railroads.

Union Pacific is increasing its quarterly dividend by 25 percent to 47.5 cents, the Omaha, Nebraska-based company said today in a statement. CSX Corp., the second biggest publicly traded railroad, announced yesterday that it will boost its dividend by 38 percent.

Union Pacific’s dividend is payable July 1 to shareholders of record on May 31. CSX, which announced a three-for-one stock split yesterday, said it would pay a quarterly dividend of 12 cents a share, on a post-split basis. Its June 15 payout goes to shareholders of record at the end of May. CSX also said it would buy back as much as $2 billion in shares.