Canadian Pacific's board of directors declares quarterly dividend of C$0.35/share, payable July 28 to shareholders of record as of June 27

CALGARY, Alberta , May 1, 2014 (press release) – The Board of Directors of Canadian Pacific Railway Limited (CP.TO) (CP) today declared a quarterly dividend of thirty-five cents ($0.35) Canadian per share on the outstanding Common Shares.

The dividend is payable on July 28, 2014 to holders of record at the close of business on June 27, 2014 , and is an "eligible" dividend for purposes of the Income Tax Act ( Canada ) and any similar provincial/territorial legislation.

About Canadian Pacific
Canadian Pacific (CP.TO)(CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal , providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

SOURCE Canadian Pacific
Contact:

Media
Ed Greenberg
Tel.: 612-849-4717
24/7 Media Pager: 855-242-3674
email: Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel.: 403-319-3591
email: investor@cpr.ca

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