Canadian Pacific Kansas City Ltd 8-K, filed Oct 7, 2020
Canadian Pacific Kansas City Ltd (CP)
8-K
2020-10-07
For: 2020-10-02
View Original
Added on
April 11, 2026
About this 8-K
Canadian Pacific Kansas City Ltd filed this 8-K on October 7, 2020, reporting on events of October 2, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
Canadian Pacific Railway Limited
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Canada,
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Shares, without par value, of Canadian Pacific Railway Limited |
CP | Toronto Stock Exchange | ||
Perpetual 4% Consolidated Debenture Stock of Canadian Pacific Railway Company |
BC87 | London Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 8.01. | Other Events. |
On October 2, 2020, Canadian Pacific Railway Limited (the “Corporation”) issued a press release announcing the achievement of the Corporation’s best-ever third quarter for Canadian grain and grain products shipments. 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 October 2, 2020. | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
EXHIBIT INDEX
| Exhibit No. | Exhibit Description | |
| Exhibit 99.1 | Press Release dated October 2, 2020. | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: October 7, 2020 | ||||
| CANADIAN PACIFIC RAILWAY LIMITED | ||||
| By: | /s/ Nizam Hasham | |||
| Name: | Nizam Hasham | |||
| Title: | Assistant Corporate Secretary | |||
EXHIBIT 99.1
Release: October 2, 2020
CP reports best-ever third quarter and September for transporting Canadian grain
Calgary – Canadian Pacific (TSX: CP) (NYSE: CP) achieved its best-ever third quarter for Canadian grain and grain products shipments, moving 7.72 million metric
tonnes (MMT) in 2020 vs. 6.97 MMT during the previous third-quarter record in 2014, up 10.8 percent. CP also set a new September record for shipping Canadian grain and grain products, moving 2.8 MMT and beating the prior September 2017 record by more
than 8.4 percent.
“We are proud of the steadfast commitment and dedication the CP family has shown throughout the pandemic, which has been critical to Canada’s grain supply chain and
to our customers,” said Joan Hardy, CP Vice-President Sales and Marketing Grain and Fertilizers. “The CP team showed itself ready for this fall’s harvest, supporting customers and their supply chains to get grain moving off the combine and to market.
Customers tell us the crop that continues to come off the fields is large, and CP is ready to keep it moving.”
CP’s new hopper cars continue to create additional capacity. CP’s average railcar load of wheat for the 2019-2020 crop year was approximately 1.6 metric tonnes
greater compared to the 2017-2018 crop year, before CP began adding the cars to its fleet. CP now has 3,200 new high-capacity hopper cars in its fleet. The new hopper cars can carry 15 percent more volume and 10 percent more weight compared to the
older cars they are replacing. An 8,500-foot High Efficiency Product (HEP) train can carry in excess of 40 percent more grain than the 7,000-foot train model when combined with the additional capacity of the new hopper cars.
Customers are actively investing in their elevator networks to accommodate 8,500-foot HEP trains. By year-end, more than 30 percent of the CP-served unit train
loaders will be HEP qualified, increasing capacity and efficiency in the grain supply chain for customers and stakeholders.
For details on CP’s plan to deliver throughout the winter, see our 2020-2021 Winter Contingency Plan
Report.
Note on forward-looking information
This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of
applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of
operations or performance. Forward-looking information may contain statements with words or headings such as "will", "anticipate", "believe", "expect", "plan", "should" or similar words suggesting future outcomes.
The forward-looking information contained in this news release is based on current expectations, estimates, projections and assumptions, having regard to CP's
experience and its perception of historical trends, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to: North American and global economic growth; commodity demand growth; agricultural production;
commodity prices and interest rates; performance of our assets and equipment; sufficiency of our budgeted capital expenditures in carrying out our business plan; our ability to complete our capital and maintenance projects on the timelines
anticipated; applicable laws, regulations and government policies; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to CP; the anticipated impacts of the novel strain of
coronavirus (and the disease known as COVID-19); and capital investments by third parties. Although CP believes the expectations, estimates, projections and assumptions reflected in the forward-looking information presented herein are reasonable as
of the date hereof, there can be no assurance that they will prove to be correct. Current conditions, economic and otherwise, render assumptions, although reasonable when made, subject to greater uncertainty.
Undue reliance should not be placed on forward-looking information as actual results may differ materially from those expressed or implied by forward-looking
information. By its nature, CP's forward-looking information involves inherent risks and uncertainties that could cause actual results to differ materially from the forward looking information, including, but not limited to, the following factors:
changes in business strategies; general North American and global economic, credit and business conditions; risks associated with agricultural production, such as weather conditions and insect populations; the availability and price of energy
commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; changes in commodity prices; uncertainty surrounding timing and volumes of commodities being shipped via CP; inflation; changes in laws,
regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; uncertainties of investigations, proceedings or other types of claims
and litigation; labour disputes; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; trade restrictions or other changes
to international trade arrangements; climate change; various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, as well as security threats and governmental
response to them, and technological changes; and the pandemic created by the outbreak of the novel strain of coronavirus (and the disease known as COVID-19) and resulting effects on economic conditions, the demand environment for logistics
requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions, and disruptions to global
supply chains. The foregoing list of factors is not exhaustive. These and other factors are detailed from time to time in reports filed by CP with securities
regulators in Canada and the United States. Reference should be made to "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements" in CP's annual and interim reports on Form
10-K and 10-Q.
The forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CP undertakes no obligation to update
publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.
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. CP-IR
Media
Andy Cummings
612-554-0850
Andy_Cummings@cpr.ca
24/7 media pager: alert_mediarelations@cpr.ca
Investment Community
Maeghan Albiston
403-319-3591
investor@cpr.ca