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Canadian Pacific Railway raising quarterly dividend by 15.5%

May 10, 2018 4:53 PM
28 0

CALGARY — Canadian Pacific Railway Ltd. is raising its quarterly dividend by 15.5 per cent.

The railway says it will now make a regular payment to shareholders of 65 cents per share, up from 56.25 cents per share.

Based on the company’s closing share price of $238.76 on Wednesday it will have an annual yield of about 1.09 per cent.

Canadian Pacific also said that it bought back about 4.4 million of its shares at a weighted average price of $214.31 in May.

By buying back its stock, a company spreads its profits over fewer shares.

Also read: Newmont Mining to buy Goldcorp to create one of world’s biggest gold producers


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