01—Abstract
Summary
Summary of the 6-K filed July 25, 2014. Cited figures are marked; the original filing is the authoritative source.
Canadian Pacific Railway Limited (CP) announced on July 24, 2014, the declaration of its quarterly dividend.
The Board of Directors approved a dividend of CAD $0.35a per common share. This dividend payment is scheduled for October 27, 2014, for shareholders of record as of September 26, 2014. This announcement is considered an "eligible" dividend under Canadian tax law, which may have implications for Canadian resident shareholders regarding tax treatment.
Investors should note that this filing is a Form 6-K, a report of foreign private issuers, and is furnished to the SEC and incorporated by reference into certain registration statements. The core message for investors is the continuation of a regular dividend payment, signaling financial stability and a commitment to returning capital to shareholders.
02—Key points
Key Highlights
- Canadian Pacific Railway Limited declared a quarterly dividend of CAD $0.35 per outstanding Common Share.
- The dividend payment date is set for October 27, 2014.
- Shareholders of record as of the close of business on September 26, 2014, will receive the dividend.
- The dividend is designated as an "eligible" dividend for Canadian tax purposes.
- This filing is a Form 6-K, indicating it's a report from a foreign private issuer.
- The report is incorporated by reference into several of CP's S-8 Registration Statements.
03—Questions
Frequently Asked Questions
What is the amount of the quarterly dividend declared by Canadian Pacific?
Canadian Pacific declared a quarterly dividend of thirty-five cents ($0.35) Canadian per outstanding Common Share.
When will the declared dividend be paid?
The dividend will be payable on October 27, 2014.
Who is eligible to receive this dividend?
Holders of record of the outstanding Common Shares at the close of business on September 26, 2014, are eligible to receive the dividend.
What does it mean for the dividend to be "eligible" for Canadian tax purposes?
An "eligible" dividend for purposes of the Income Tax Act (Canada) generally allows for a more favorable tax treatment for Canadian resident shareholders compared to non-eligible dividends, typically involving a gross-up and dividend tax credit mechanism.
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