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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Pacific Railway Limited    CP   CA13645T1003

CANADIAN PACIFIC RAILWAY LIMITED

(CP)
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Canadian Pacific Railway : to donate to local food banks, host virtual concert for 2020 Holiday Train

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09/24/2020 | 05:01pm EDT

CALGARY, AB, Sept. 24, 2020 /CNW/ - Due to the COVID-19 pandemic, Canadian Pacific (CP) will donate to food banks in communities along its network and host a virtual concert in lieu of its regular Holiday Train program. The modified program will draw attention to food security issues, while ensuring donations go to all food banks that would ordinarily receive them, including those that typically host a Holiday Train event in alternating years. 

"COVID-19 has created many challenges for communities across our network and has only increased the need at local food banks and food shelves," said CP President and Chief Executive Officer Keith Creel. "It is our honor to continue to donate to communities across our network this year, even if the train itself will not run. The spirit of the Holiday Train program and the Christmas spirit will carry on this year through our virtual concert. We will have the Holiday Train rolling again spreading Christmas cheer as soon as it's safe to do so!"  

CP launched the Holiday Train in 1999, and every year since it has traveled across Canada and the northern U.S. raising money, collecting food and drawing attention to the important work of local food banks. In its first 21 years, the train has raised $17.8 million and collected 4.8 million pounds of food for local food banks in communities along CP's network.

"We are very excited that CP has chosen a safe way to keep the spirit of the CP Holiday Train rolling in support of local food banks like ours in these challenging times," said Calgary Food Bank President and CEO James McAra. "The need for food bank services has risen substantially over the course of this year and heading into the high-demand winter months. We hope CP's concert will prompt the train's supporters to give as generously as they're able."

Live music has always been part of the CP Holiday Train tradition. To maintain that tradition, CP will produce a benefit concert, with details to be announced when they're available.

"We support CP's decision to hold a virtual concert instead of hosting events that encourage local gathering, though we'll miss the train's bright lights and in-person shows," said Kristine Martin, President of East Side Neighborhood Services, a Minneapolis-based Holiday Train beneficiary food bank. "CP's generous donations to East Side Neighborhood Services over the years have helped us provide nutritious food to people who have difficulty accessing traditional food shelves or grocery stores. This year, being able to continue providing those services has been even more important. We're thankful to CP for their continued support and donations again this year."

CP intends to resume operating the annual train tour in 2021.

About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP 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 CP.

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View original content:http://www.prnewswire.com/news-releases/canadian-pacific-to-donate-to-local-food-banks-host-virtual-concert-for-2020-holiday-train-301137716.html

SOURCE Canadian Pacific

© Canada Newswire, source Canada Newswire English


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Financials
Sales 2020 7 858 M 5 990 M 5 990 M
Net income 2020 2 309 M 1 760 M 1 760 M
Net Debt 2020 9 397 M 7 164 M 7 164 M
P/E ratio 2020 24,9x
Yield 2020 0,84%
Capitalization 56 511 M 43 057 M 43 078 M
EV / Sales 2020 8,39x
EV / Sales 2021 7,86x
Nbr of Employees 12 694
Free-Float 99,7%
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Number of Analysts 30
Average target price 412,29 CAD
Last Close Price 420,16 CAD
Spread / Highest target 15,0%
Spread / Average Target -1,87%
Spread / Lowest Target -24,1%
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NameTitle
Keith Edward Creel President, Chief Executive Officer & Director
Isabelle Courville Chairman
Mark Redd Executive Vice President-Operations
Nadeem S. Velani Chief Financial Officer & Executive Vice President
Michael John Redeker Chief Information Officer & Vice President
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