11 May 2011

Canadian Pacific Railway Announces Dividend Increase

Calgary Alberta - The Board of Directors of Canadian Pacific Railway Limited today declared an increase in CP's next quarterly dividend to thirty cents ($0.30) Canadian per share on the outstanding Common Shares, from twenty-seven cents ($0.27) per share.
 
The increased dividend is payable on 25 Jul 2011 to holders of record at the close of business on 24 Jun 2011, and is an eligible dividend pursuant to subsection 89(14) of the Income Tax Act.
 
"With the growing demand in our bulk and energy franchises, we feel positive about the long-term fundamentals of our business," stated Kathryn McQuade, Executive Vice-President and Chief Financial Officer.
 
"The Company believes that increasing the dividends as earnings grow provides a balanced approach to total shareholder return."