Canadian Pacific Railway (CP) Raises Quarterly Dividend 42.9% to $0.50; 1.3% Yield
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CP announces intention to launch new share repurchase program and increases dividend by 43 percent
April 20, 2016 7:25 AM EDTCALGARY, April 20, 2016 /PRNewswire/ -Â Canadian Pacific (TSX: CP) (NYSE: CP) today announced that it intends to seek Toronto Stock Exchange (TSX) acceptance of a new normal course issuer bid. Subject to TSX acceptance, CP's board of directors has authorized the repurchase of up to 6.91 million of its common shares, for cancellation, representing approximately 5 percent of CP's "public float" of common shares as at April 19, 2016.
The board also authorized an increase to the company's quarterly dividend to $0.50 per share from $0.35 payable on July 25, 2016 to... More
