(Reuters circulated the following on May 21, 2010.)
CALGARY — Canadian Pacific Railway Ltd (CP.TO) said it raised its quarterly dividend by 9 percent and increased its 2010 capital spending budget by C$70 million ($65.7 million).
Canada’s second biggest railway raised its dividend to 27 Canadian cents a share, from 24.75 Canadian cents a share, payable on July 26, to shareholders of record July 25.
The company said its 2010 capital spending budget now ranges between $750 million to $800 million.
Shares of the company closed at C$54.80 Thursday on the Toronto Stock Exchange. ($1=1.066 Canadian dollar)