Canadian Pacific Railway Limited declares dividend

              Canadian Pacific Railway Limited declares dividend

PR Newswire

CALGARY, Feb. 22, 2013

CALGARY, Feb. 22, 2013 /PRNewswire/ - The Board of Directors of Canadian
Pacific Railway Limited (TSX: CP) (NYSE: CP) today declared a quarterly
dividend of thirty-five cents ($0.35) Canadian per share on the outstanding
Common Shares.  The dividend is payable on April 29, 2013 to holders of record
at the close of business on March 28, 2013, and is an "eligible" dividend for
purposes of the Income Tax Act (Canada) and any similar provincial/territorial
legislation.

About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and
the United States with direct links to eight major ports, including Vancouver
and Montreal, providing North American customers a competitive rail service
with access to key markets in every corner of the globe. CP is a low-cost
provider that is growing with its customers, offering a suite of freight
transportation services, logistics solutions and supply chain expertise. Visit
cpr.ca to see the rail advantages of Canadian Pacific.

SOURCE Canadian Pacific

Contact:

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Investment Community
Janet Weiss
Tel: 403-319-3591
email: investor@cpr.ca