Canadian Pacific Railway announces five-for-one stock split, share repurchase program

CALGARY – Canadian Pacific Railway Ltd. says it will seek shareholder and regulatory approval for a five-for-one split of its common shares.

Keith Creel, CP’s president and CEO, says the railway believes the share split will encourage greater liquidity for CP’s shares by making them available to a wider group of investors.

Shareholders are scheduled to vote on the proposed split on April 21.

If approved, shareholders will be entitled to four additional shares for each share held, on a date that is still to be determined.