CANADIAN PACIFIC RAILWAY LTD. $162 - Toronto symbol CP

CANADIAN PACIFIC RAILWAY LTD. $162 (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 175.7 million; Market cap: $28.5 billion; Priceto- sales ratio: 4.6; Dividend yield: 0.9%; TSINetwork Rating: Above Average; www.cpr.ca) will repurchase up to 1.3 million of its shares from a private seller at a discount to the market price.

This move is part of the company’s plan to buy back up to 5.3 million of its common shares, or roughly 3% of the total outstanding, by March 16, 2015. Share buybacks raise earnings per share and other per-share calculations, and give the remaining shareholders a larger stake in the company.

CP Rail is a buy.

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