Calgary Alberta - Canadian Pacific Railway Limited (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 30 Jul 2018 to holders of record at the close of business on 29 Jun 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 10 May 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 31 Mar 2018.
 
Author unknown.