Jan 18 (Reuters) - Canadian Pacific Railway Ltd CP.TO :
* CP reports record low operating ratio for fourth quarter and full year amid challenging conditions
* Reports FY 2016 adjusted earnings per share C$10.29
* Q4 earnings per share C$2.61
* Q4 revenue fell 3 percent to C$1.64 billion
* 2016 featured stiff economic headwinds and challenging volume environment, headlined by precipitous decline in crude oil shipments, weakness in grain movements
* Plans to invest approximately $1.25 billion in capital programs in 2017, an increase of 6 percent over $1.18 billion spent in 2016
* Canadian Pacific Railway Ltd says expect adjusted diluted EPS growth to be in high single-digits for 2017
* Qtrly operating ratio 56.2% versus 59.8% last year
* Canadian Pacific Railway Ltd says assumes that in 2017 Canadian-to-U.S. Dollar exchange rate will be in range of $1.30 to $1.35
* Canadian Pacific Railway Ltd says plans to invest approximately $1.25 billion in capital programs in 2017
* Q4 earnings per share view C$3.11, revenue view c$1.65 billion -- Thomson Reuters I/B/E/S Source text for Eikon: ID:nCNW4y4nsa Further company coverage: CP.TO