Canadian Pacific Railway Limited (CP) to Issue Quarterly Dividend of $0.65 on October 29th

Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP) announced a quarterly dividend on Monday, September 17th, RTT News reports. Stockholders of record on Friday, September 28th will be given a dividend of 0.65 per share on Monday, October 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, September 27th. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.56.

Shares of TSE CP traded up C$0.55 during mid-day trading on Wednesday, reaching C$273.24. 96,585 shares of the company’s stock were exchanged, compared to its average volume of 325,818. Canadian Pacific Railway has a twelve month low of C$204.93 and a twelve month high of C$277.25.

Canadian Pacific Railway (TSE:CP) (NYSE:CP) last announced its earnings results on Wednesday, July 18th. The company reported C$3.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$3.12 by C$0.04. Canadian Pacific Railway had a return on equity of 101.93% and a net margin of 89.03%. The business had revenue of C$1.75 billion for the quarter, compared to analyst estimates of C$1.74 billion.

Several research analysts have weighed in on the company. TD Securities boosted their price target on Canadian Pacific Railway from C$265.00 to C$270.00 and gave the stock a “c$254.60” rating in a research report on Thursday, July 19th. BMO Capital Markets boosted their price target on Canadian Pacific Railway from C$270.00 to C$295.00 in a research report on Wednesday, September 5th. Raymond James boosted their price target on Canadian Pacific Railway from C$275.00 to C$285.00 and gave the stock a “c$254.60” rating in a research report on Thursday, July 19th. National Bank Financial boosted their price target on Canadian Pacific Railway from C$260.00 to C$266.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 24th. Finally, Desjardins lifted their target price on Canadian Pacific Railway from C$259.00 to C$274.00 and gave the stock a “c$254.60” rating in a research note on Thursday, July 19th. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Canadian Pacific Railway has a consensus rating of “Buy” and an average price target of C$266.20.

In other news, insider Justin Dale Meyer sold 1,464 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of C$267.10, for a total transaction of C$391,034.40. Also, insider Laird Joseph Pitz sold 700 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of C$269.66, for a total value of C$188,762.00. Over the last quarter, insiders have sold 2,264 shares of company stock valued at $605,070.

Canadian Pacific Railway Company Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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Dividend History for Canadian Pacific Railway (TSE:CP)

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