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Dividends

​​​​​​The CPRL Board of Directors recognizes the importance of providing shareholders with a return on their investment. Accordingly, the Board of Directors will consider the payment of quarterly dividends out of the funds or property of CPRL properly available for that purpose.

The amount of any quarterly dividend will be determined by the Board of Directors based on a number of factors which may include the results of operations, financial condition, cash requirements and future prospects of CPRL. Holders of CPRL Common Shares should be aware that the Board of Directors is under no obligation to declare dividends and the declaration of dividends is wholly within its discretion.

Further, the Board of Directors may cease declaring dividends or may declare dividends in amounts which are different from those previously declared. Finally, restrictions in the credit or financing agreements entered into by CPRL or the provisions of applicable law may preclude the payment of dividends in certain circumstances.

Canadian Pacific Railway Limited does not have a Dividend Reinvestment Plan or a Share Purchase Plan.

Eligibility of Canadian Pacific Railway Limited dividends for enhanced tax treatment

Eligibility of Canadian Pacific Railway Limited dividends for enhanced tax treatment All dividends paid or to be paid by Canadian Pacific Railway Limited (including those paid during 2006) are designated as “eligible” dividends, unless indicated otherwise, for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation.

Eligible dividends received by individuals resident in Canada are entitled to a higher dividend gross-up and dividend tax credit, resulting in a reduction in the income tax otherwise payable on those dividends.

CPRL dividend history

​Record​​ date​​​​ Payment date​ Amount per share
(CDN $)
​December 30, 2016​January 30, 2017​0.5000
​September 30, 2016​October 24, 2016​​0.5000
​June 24, 2016​​July 25, 2016​0.5000
March 24, 2016 April 25, 2016​0.3500
December 31, 2015January 25, 2016​0.3500
​​September 25, 2015​October 26, 2015​0.3500
​June 26, 2015​July 27, 2015​0.3500
​March 27, 2015​April 27, 2015​0.3500
​December 31, 2014​January 26, 2015​0.3500
​September 26, 2014October 27, 2014​0.3500
June 27, 2014 July 28, 2014 0.3500
March 28, 2014​​​April 28, 20140.3500
December 27, 2013January 27, 20140.3500
September 27, 2013October 28, 20130.3500
June 28, 2013July 29, 20130.3500
March 28, 2013April 29, 20130.3500
December 28, 2012January 28, 20130.3500
September 28, 2012October 29, 20120.3500
June 22, 2012July 30, 20120.3500
March 30, 2012April 30, 20120.3000
December 30, 2011January 30, 20120.3000
September 30, 2011October 31, 20110.3000
June 24, 2011July 25, 20110.3000
March 25, 2011April 25, 20110.2700
December 31, 2010January 31, 20110.2700
September 24, 2010October 25, 20100.2700
June 25, 2010July 26, 20100.2700
March 26, 2010April 26, 20100.2475 
December 31, 2009January 25, 20100.2475 
September 25, 2009October 26, 20090.2475 
June 26, 2009July 27, 20090.2475
March 27, 2009April 27, 20090.2475
December 24, 2008January 26, 20090.2475
September 26, 2008October 27, 20080.2475
June 27, 2008July 28, 20080.2475
March 28, 2008April 28, 20080.2475
December 28, 2007January 28, 20080.2250
September 28, 2007October 29, 20070.2250
June 29, 2007July 30, 20070.2250
March 30, 2007April 30, 20070.2250
December 29, 2006January 29, 20070.1875
September 29, 2006October 30, 20060.1875
June 30, 2006July 31, 20060.1875
March 31, 2006April 24, 20060.1875
December 30, 2005January 30, 20060.1500
September 30, 2005October 31, 20050.1500
June 24, 2005July 25, 20050.1500
March 25, 2005April 25, 20050.1325
December 31, 2004January 31, 20050.1325
September 24, 2004October 25, 20040.1325
June 25, 2004July 26, 20040.1275
March 26, 2004April 26, 20040.1275
December 24, 2003January 26, 20040.1275
September 26, 2003October 27, 20030.1275
June 27, 2003July 28, 20030.1275
March 28, 2003April 28, 20030.1275
December 27, 2002January 27, 20030.1275
September 27, 2002October 28, 20020.1275
June 27, 2002July 29, 20020.1275
March 27, 2002April 29, 20020.1275
December 27, 2001January 28, 20020.1275​