CALGARY, May 10, 2018 /CNW/ - Canadian Pacific
Railway Limited (TSX: CP) (NYSE: CP) today announced that the board
declared a quarterly dividend of $0.65 per share, an increase of 15.5 percent to
the previous dividend of $0.5625 per
share. The dividend is payable on July 30,
2018 to holders of record at the close of business on
June 29, 2018, and is an "eligible"
dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial
legislation.
The company also announced that it has completed its normal
course issuer bid announced on May 10,
2017. CP purchased 4,384,062 common shares at a weighted
average price of $214.31.
In total, CP has repurchased 35.32 million of its common shares
since 2014. This represents approximately 25 percent of its public
float, as at March 31, 2018.
About Canadian Pacific
Canadian Pacific is a
transcontinental railway in Canada
and the United States with direct
links to major ports on the west and east coasts, providing North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of CP. CP-IR
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SOURCE Canadian Pacific