CPR Declares a 10% dividend increase
Published: February 19, 2008
Source: PRNewswire-FirstCall

The Board of Directors of Canadian Pacific Railway Limited today declared an increase of 10 per cent in CP's next quarterly dividend to twenty-four and three quarter cents ($0.2475) Canadian per share on the outstanding Common Shares, from twenty-two and one half cents ($0.225) per share.

"The dividend increase continues CP's trend of dividend growth which reflects our ability to deliver on our financial targets," said Mike Lambert, Executive Vice President and Chief Financial Officer. "CP is confident in the strength of our franchise, the outlook for our customers, and the solid fundamentals of the rail industry."

The $0.2475 dividend is payable on April 28th, 2008, to holders of record at the close of business on March 28th, 2008 and is an eligible dividend pursuant to subsection 89(14) of the Canadian Income Tax Act.