Canadian Pacific Railway Ltd. is leaning toward implementing a stock buyback this year, a nod to the needs of U.S. investors, along with a “modest” dividend increase, Chief Executive Officer Hunter Harrison said.
Canadian Pacific Railway Ltd.’s chief executive officer may wear a target on his back as the company’s biggest shareholder, William Ackman’s Pershing Square Capital Management LP, pushes for a management switch.
Canadian Pacific Railway Ltd. agreed to sell the western part of its Dakota, Minnesota & Eastern line to Genesee & Wyoming Inc. for $210 million, undoing a purchase completed in 2008 to expand its coal business.
William Ackman’s pick to lead Canadian Pacific Railway Ltd. would drive customers away if he employs the tactics he used to boost profitability at larger rival Canadian National Railway Co., the smaller carrier said.
William Ackman, the hedge-fund manager pressing Canadian Pacific Railway Ltd. for a leadership change, said the carrier is losing market share to rivals under current Chief Executive Officer Fred Green.
William Ackman’s Pershing Square Capital Management LP, the largest shareholder in Canadian Pacific Railway Ltd., urged the carrier to hire the former chief executive officer of rival Canadian National Railway Co., a person familiar with the matter said.
Canadian Pacific Railway Ltd.’s operating expenses consumed less revenue when Fred Green became chief executive officer than in this year’s first quarter, the last earnings period before shareholders vote on investor William Ackman’s bid to replace him.
Canadian Pacific Railway Ltd. Chief Executive Officer Fred Green, targeted for dismissal by hedge- fund investor William Ackman, received no bonus last year as the carrier failed to meet its profit targets.