ITEM 8.01. Other Events.

On April 26, 2022, Canadian Pacific Railway Limited (the "Corporation") issued a press release announcing that the Corporation's board of directors declared a quarterly dividend of $0.19 per share on the Corporation's outstanding common shares. The dividend is payable on July 25, 2022 to holders of record at the close of business on June 24, 2022. 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 April 26, 2022.

Exhibit 104     Cover Page Interactive Data File (embedded within the Inline XBRL
                document).

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