Canadian Pacific Railway Ltd. raised its dividend and launched a share buyback program on Wednesday, rewarding investors in the wake of the failed takeover bid for Virginia-based Norfolk Southern Corp.
Calgary-based CP said it will raise the quarterly dividend to 50 cents from 35 cents, and repurchase as many as 7 million shares or 5 per cent of its shares.
Silver futures rallied to their highest level in more than 10 months on Tuesday, and gold futures traded at a one week high, with the U.S. dollar-denominated metals getting a boost from weaker greenback.
Silver for May delivery advanced 71.7 cents, or 4.4%, to $16.97 an ounce on Comex. Prices haven’t traded at a level this high since late June and haven’t settled around this level late May.
Oil prices have dropped sharply after a meeting of oil producers failed to agree an output freeze.
Brent crude fell 7% at one point before recovering some ground. In afternoon trade it fell 3.4% to $41.70 a barrel.
The meeting in Qatar was attended by most members of oil producers' group Opec, including Saudi Arabia, but not Iran.
Southwest Airlines has an impressive 650% DPS growth over the last three years
Frank Holmes | April 15, 2016: The following is an excerpt from an art...
Canada’s oil patch is expected to cut even further to the bone this year, capping the worst two-year period for spending in almost seven decades. The new forecast from the Canadian Association of Petroleum Producers came today, with an “urgent” call for new rules and a warning that “times are tough” amid the oil shock.
Canada’s main stock index roses slightly on Wednesday amid energy gains as oil prices rose. The most influential gainers included Valeant Pharmaceuticals International Inc., which rose 14.24 percent to $43.15, and Canadian Natural Resources Ltd., which advanced 4.1 per cent to $34.703.
The dollar fell on Tuesday to its weakest against the yen since October 2014 as investors’ view of riskier assets soured, pushing shares and oil prices lower as the outlook for U.S. interest rates remained clouded.
