Canadian Pacific Railway (CP) Raises Quarterly Dividend 14.5% to C$0.95

Canadian Pacific Railway (NYSE: CP) declared a quarterly dividend of C$0.95 per share, or $3.8 annualized. This is a 14.5% increase from the prior dividend of C $0.83.

The dividend will be payable on October 26, 2020, to stockholders of record on September 25, 2020, with an ex-dividend date of September 24, 2020.

"This dividend increase illustrates the resiliency of our operating model and our continued dedication to creating value for our shareholders," said CP President and Chief Executive Officer Keith Creel. "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."

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," Creel said. "Despite the current challenges with COVID-19, we remain committed to delivering for each other, our customers and our shareholders."

For a dividend history and other dividend-related data on Canadian Pacific Railway (CP) click here.

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