Canadian Pacific – Page 11

CP, Borealis Infrastructure Announce Changes to Detroit River Tunnel Partnership

April 1, 2009 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway Limited and Borealis Infrastructure Management Inc. announced that they have entered into a transaction that, subject to regulatory approval, will change their joint ownership of the Detroit River Tunnel Partnership (DRTP) to a majority position for Borealis. CP retains its exclusive right to operate and maintain the Detroit River tunnel; however, CP’s interest will decrease to 16.5 per cent from 50 per cent with the completion of this transaction. CP’s proceeds from the transaction will be $110 million plus additional proceeds of $22 million based on future freight volume through the tunnel. The DRTP owns

Canadian Pacific Railway Limited Declares Dividend

February 18, 2009 Railfanning.org News Wire

CALGARY — The Board of Directors of Canadian Pacific Railway declared a quarterly dividend of $0.2475 per share on the outstanding Common Shares. The dividend is payable on April 27 to holders of record at the close of business on March 27 and is an eligible dividend pursuant to subsection 89(14) of the Income Tax Act. — PRNewswire-FirstCall

Canadian Pacific Completes Common Share Offering

February 11, 2009 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway announced it has completed its common equity offering of 13.9 million shares at $36.75 per share for total gross proceeds of $510.8 million, which includes the exercise in full of the underwriters over allotment option for 1.3 million shares. — PRNewswire-FirstCall

AAR: Rail Freight Traffic Down During Holiday Week

December 31, 2008 Railfanning.org News Wire

WASHINGTON — Freight traffic on U.S. railroads was down during the holiday week ended December 27 in comparison with the corresponding holiday week last year the Association of American Railroads (AAR) reported today. Total volume was estimated at 21.4 billion ton-miles, down 20.1 percent from the same week last year. Intermodal volume totaled 124,061 trailers or containers, down 21.8 percent from last year, with container volume down 21.5 percent and trailer volume down 23.2 percent. Carload freight, which doesn’t include the intermodal data, totaled 200,365 cars for the week, down 21.7 percent from last year. Loadings were down 26.5 percent

Canadian Pacific to Review Federal Court Grain Hopper Car Maintenance Decision

December 2, 2008 Railfanning.org News Wire

CALGARY — Canadian Pacific recently said it responded to the recent decision by the Federal Court of Appeal dismissing the appeal filed by CP regarding the adjustment to the maximum revenue entitlement under the Canada Transportation Act. CP said it will review the court’s decision and available legal recourse. The court upheld the retroactive adjustment made by the CTA on February 19 resulting in a decrease of $23M in what CP was entitled to earn for the movement of grain for a portion of the 2007/2008 crop year. CP said it will review its products and pricing as it relates

CP Holiday Train Begins Journey Across Seven States for Food Pantries

November 28, 2008 Railfanning.org News Wire

ROUSES POINT, N.Y. — On the eve of thanksgiving, the residents of Rouses Point had much to be thankful as Canadian Pacific held its first 2008 Holiday Train event in the U.S. The Holiday Train will eventually make its way to Carpio, N.D., on Dec. 15, raising food, money and awareness for food pantries along the way. In all, thousands of people in more than 50 communities in New York, Pennsylvania, Illinois, Iowa, Minnesota, Wisconsin and North Dakota will experience the Holiday Train’s important mission in the fight against hunger. At the same time, a second identically-decorated Holiday Train will

Poll: Safety Concerns Drive Seven in Ten Rochester Residents to Oppose Increased Freight Traffic through Minn. City

November 28, 2008 Railfanning.org News Wire

ROCHESTER, Minn. — Safety, potential accidents and quality of life concerns are prompting nearly 70 percent of Rochester residents to oppose plans to increase freight train traffic through their city, a new survey shows. The survey of more than 500 Rochester residents, conducted October 8-16, also shows strong public sentiment for area elected officials to resist plans to expand freight rail traffic in the city. The Canadian Pacific Railway (CP) recently acquired the Dakota, Minnesota and Eastern Railroad (DM&E) and associated tracks through downtown Rochester. During the acquisition, CP officials outlined plans to upgrade tracks through Rochester in anticipation of

Canadian Pacific Drives for Greater Efficiency

November 13, 2008 Railfanning.org News Wire

CALGARY — In advance of its Investor Conference in Toronto, Canadian Pacific said it is aiming for “greater efficiency.” “Canadian Pacific is driving greater efficiency into all aspects of the business,” said Fred Green, President and Chief Executive Officer. “We are accelerating our efficiency efforts and will continue with our disciplined approach to pricing and yield to deliver value to our shareholders despite the uncertainty of the economic climate.” “Canadian Pacific plans capital investment in 2009 consistent with the current economic conditions,” said Kathryn McQuade, Executive Vice President and Chief Financial Officer. “We are pacing our capital investments to match

DM&E Joins CP Holiday Train in a Decade of Giving

November 10, 2008 Railfanning.org News Wire

MINNEAPOLIS — Food banks in more than 100 North American communities will be front and center when Canadian Pacific’s tenth annual Holiday Train gets underway. A brightly decorated CP train will collect food and money for local food banks, raise awareness in the fight against hunger and, help communities across CP’s newly expanded network celebrate the holiday season. “The Holiday Train is North America’s largest rolling fundraiser and a cherished tradition for our employees and the communities where we operate,” said CP President and CEO Fred Green. “We’re especially pleased to welcome employees and communities throughout our newly acquired DM&E

CP Salutes Fallen Soldiers

November 6, 2008 Railfanning.org News Wire

CALGARY — Canadian Pacific will honor employees who served Canada and the United States in war. Network-wide, all trains will safely halt at 11AM local time, observe two minutes of respect in silence and then sound a long train whistle in tribute. A Remembrance Day and Veterans Day service will also be held at CP’s headquarters in Calgary. “On this day, Canadian Pacific will recognize the contributions our employees made in times of war. On land, at sea and in the air, at home and abroad, the company, its people, its resources, its ingenuity and expertise were needed,” said Fred