12 June 2010

CP Insiders Buy After Dividend Boost

For those looking for confirmation that the global economic recovery has staying power, we have come across some encouraging signs from CP.
 
On 20 May 2010, the company announced an increase in its quarterly dividend to 27 cents, from 24.75 cents, per share for shareholders of record on 25 Jun 2010.
 
The day after the news, an officer bought 1,000 shares in the public market at prices ranging from $56.01 to $56.05.
 
On 3 Jun 2010, director Hartley Richardson bought 5,000 shares at prices ranging between $59.58 and $59.79.
 
With respect to longer term trends, over the past year officers and directors at the railway have been public market net buyers of 9,993 shares.
 
Ted Dixon.