CP Rail hikes dividend, launches share buyback

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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.

Read the full article at: www.theglobeandmail.com

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