Calgary Alberta - The Board of Directors of Canadian Pacific Railway Limited (CP) today declared a quarterly dividend of $0.83 per share on the outstanding Common Shares, an increase of 27.5 percent to the previous dividend of $0.65 per share.
 
"This significant dividend increase represents not only our outstanding performance as a company, but our commitment to creating long-term value for our shareholders," said CP President and CEO Keith Creel.
 
"CP remains well-positioned for sustainable, profitable, growth and providing balanced shareholder returns is an important part of our success. This is the fourth straight year CP has increased the quarterly dividend, representing a 137 percent increase since 2014. In this time, CP has paid $1.47 billion in dividends and returned $9.2 billion to shareholders."
 
Today's announcement is another step toward meeting CP's stated goal of achieving a 25 percent dividend payout ratio.
 
The dividend is payable on 29 Jul 2019 to holders of record at the close of business on 28 Jun 2019, and is an eligible dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation.
 
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