April 20 (Reuters) - Canadian Pacific Railway CP.TO
increased its quarterly dividend and said it planned to buy back
up to 5 percent of its shares, days after abandoning a bid to
buy Norfolk Southern Corp (NYSE:NSC) NSC.N .
Canada's No. 2 railroad said it would repurchase up to 6.91
million of its common shares. As of Tuesday's close of C$189.95,
the buyback would be worth about C$1.31 billion.
The company raised its quarterly to 50 Canadian cents per
share from 35 Canadian cents.
(Reporting Amrutha Gayathri in Bengaluru; Editing by Saumyadeb
Chakrabarty)