ITEM 8.01. Other Events.

On July 21, 2020, Canadian Pacific Railway Limited (the "Corporation") issued a press release announcing that its board of directors declared a quarterly dividend of $0.95 per share on the Company's outstanding common shares. The dividend is payable on October 26, 2020 to holders of record at the close of business on September 25, 2020. A copy of this press release is attached as Exhibit 99.1.

ITEM 9.01. Financial Statements and Exhibits.






(d) Exhibits



Exhibit No.                                Exhibit Description
Exhibit 99.1     Press Release dated July 21, 2020, announcing dividend declaration.
Exhibit 104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

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