CP Rail raises quarterly dividend 27.5 per cent after strong first quarter

CP Rail raises quarterly dividend 27.5 per cent after strong first quarter
CALGARY — Canadian Pacific Railway Ltd. has boosted its quarterly dividend by 27.5 per cent. The Calgary-based railway says the payout will increase to 83 cents from 65 cents and will be payable July 29 to shareholders of record June 28. The increase comes nearly two weeks after CP Rail’s profits surged 25 per cent during the winter quarter despite lower volumes caused... Read More

Bausch Health reports Q1 loss, raises full-year guidance as stock price leaps

Bausch Health reports Q1 loss, raises full-year guidance as stock price leaps
LAVAL, Que. — Bausch Health Companies Inc. raised its guidance after higher sales at its biggest subsidiary mitigated the blow of a US$52-million loss in its first quarter, boosting its share price. The stock closed up $2.88, or 9.16 per cent, at $34.31. Bausch & Lomb, a segment that generates more than half of the drug company’s revenue, saw revenue rise eight... Read More

Bank of Canada’s Poloz says mortgage market should offer more product choices

Bank of Canada’s Poloz says mortgage market should offer more product choices
OTTAWA — Bank of Canada governor Stephen Poloz says it’s time for fresh ideas when it comes to Canadians’ mortgage options. Poloz said in a speech Monday that changes could include encouraging loan terms longer than five years, the creation of a market for private mortgage-based securities and the launch of shared-equity mortgages for first-time home buyers. More innovation would help boost flexibility for borrowers, lenders... Read More

U.S. hedge fund to vote against Canopy’s proposed US$3.4B acquisition of Acreage

U.S. hedge fund to vote against Canopy’s proposed US$3.4B acquisition of Acreage
SMITHS FALLS, Ont. — A U.S. hedge fund says it will vote against Canopy Growth’s proposed acquisition of Acreage Holdings, saying the US$3.4-billion offer is “substantially lower” than the U.S. cannabis company’s worth. Marcato Capital Management, which manages funds that own roughly 2.7 per cent of Acreage’s outstanding shares, says the deal is “unbelievably lopsided” in favour of the Canadian... Read More

HBC exploring strategic alternatives for Lord and Taylor business

HBC exploring strategic alternatives for Lord and Taylor business
TORONTO — Hudson’s Bay Co. says it’s pursuing strategic alternatives for its Lord and Taylor business, including a possible sale or merger. HBC says Lord and Taylor had $1.4 billion in annual revenue in 2018. The Lord & Taylor chain has more than 40 stores in the northeastern and mid-Atlantic regions of the United States as well as its online business. HBC... Read More

Air Canada reports first-quarter profit, operating revenue climbs higher

Air Canada reports first-quarter profit, operating revenue climbs higher
MONTREAL — Air Canada reported a profit in its latest quarter compared with a loss a year ago as it saw its operating revenue rise nine per cent. The airline says it earned $345 million or $1.26 per diluted share for its first quarter, compared with a loss of $203 million or 74 cents per diluted share in the same... Read More