Calgary Alberta - The Board of Directors of Canadian Pacific Railway Limited (CP) today declared a quarterly dividend of $0.95 per share on the outstanding Common Shares, an increase of approximately 15 percent to the previous dividend of $0.83 per share.
 
"This dividend increase illustrates the resiliency of our operating model and our continued dedication to creating value for our shareholders. As part of our long-term commitment to sustainable, profitable, growth, CP has increased its quarterly dividend in five consecutive years. Over that period, we've led the industry in dividend growth with a 171 percent increase," said CP President and Chief Executive Officer Keith Creel.
 
Today's announcement continues the path toward meeting CP's stated goal of achieving a 25 percent adjusted dividend payout ratio.
 
Since 2014, CP has paid $2.0 billion in dividends and returned $11.2 billion to shareholders.
 
"This announcement is reflective of the sustained success of our CP family and of our operating model. Despite the current challenges with COVID-19, we remain committed to delivering for each other, our customers, and our shareholders," Creel said.
 
The dividend is payable on 26 Oct 2020 to holders of record at the close of business on 25 Sept 2020, and is an eligible dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation.
 
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