Canadian Pacific Railway Increases Dividend from $0.27 to $0.30

The Board of Directors of Canadian Pacific Railway Limited CP today declared an increase in CP's next quarterly dividend to thirty cents ($0.30) Canadian per share on the outstanding Common Shares, from twenty-seven cents ($0.27) per share. The increased dividend is payable on July 25, 2011 to holders of record at the close of business on June 24, 2011, and is an eligible dividend pursuant to subsection 89(14) of the Income Tax Act.