CALGARY — Canadian Pacific was notified by the Canadian Auto Workers union (CAW) today that the Memorandum of Settlement reached on Feb. 5 by Canadian Pacific and the CAW has now been ratified by the membership. The renewal collective agreement, which covers Canadian Pacific’s mechanical services employees in Canada, is four years in duration, extending to the end of 2014.
CALGARY — The Board of Directors of Canadian Pacific Railway has declared a quarterly dividend of 27 cents per share on the outstanding Common Shares. The dividend is payable on April 25, 2011, to holders of record at the close of business on March 25, 2011, and is an eligible dividend pursuant to subsection 89(14) of the Income Tax Act.
VANCOUVER — Canadian Pacific and Port Metro Vancouver (PMV) announced a collaboration agreement to improve productivity and performance through Canada’s Pacific Gateway. The Port and CP believe that greater collaboration and accountability among supply chain partners is the key to more efficient and reliable trade through the Gateway. This collaboration agreement sets the framework for the Port, CP and port stakeholders to develop mechanisms to define, measure, monitor and evaluate the performance of each participant at the port against established benchmarks. It also establishes processes to proactively communicate on service-related matters and resolve disputes between CP, the Port and port supply chain
CALGARY — The Canadian Autoworkers (CAW), representing mechanical services employees, and Canadian Pacific reached a tentative contract settlement. The Memorandum of Settlement will be sent to the union membership for ratification, which is expected to conclude within three weeks. Details of the tentative agreement will be released following ratification by union members.
CALGARY — Canadian Pacific Railway announced its fourth-quarter and full-year 2010 results, and revenue in the fourth-quarter increased 13 percent with gains across all lines of business. Reported net income in the fourth-quarter was $186 million, an increase of 27 per cent and diluted earnings per share was $1.09 for the quarter and $3.85 for the full year. Adjusted diluted earnings per share was $1.12 for the quarter and $3.87 for the full year. “Fourth quarter saw double digit revenue growth, a continuation of our year-to-date trend,” said Fred Green, President and Chief Executive Officer. “We delivered an improvement in
CALGARY — Canadian Pacific Railway unveiled plans to invest between $950 million and $1.05 billion for capital projects in 2011. “CP is focused on continuously improving service reliability, asset velocity, and productivity. With strong demand projected in many of our commodity based businesses, this capital plan will enable us to meet our customer’s needs and continue to lower our operating ratio to create a stronger franchise for the future,” said CP Chief Financial Officer, Kathryn McQuade. The 2011 Capital Plan will focus on: – Making strategic and targeted capacity investments to ensure that the efficiencies gained through our long train strategy, repair
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