The Board of Directors of
Canadian Pacific Railway Limited declared an increase in CP's next quarterly
dividend to twenty seven cents ($0.27) Canadian per share on the outstanding
Common Shares, from twenty-four and three quarter cents (C$0.2475) per share.
The increased dividend is payable on July 26, 2010, to holders of record at the
close of business on June 25, 2010, and is an eligible dividend pursuant to
subsection 89(14) of the Income Tax Act.
On May 21 at 10:30 a.m.,
Long Island Rail Road President Helena Williams joined Babylon Village Mayor
Ralph Scordino, State Senator Owen Johnson, State Assemblyman Phil Boyle and
Suffolk County Legislator Wayne Horsley at a press conference and
groundbreaking ceremony for LIRR's new Babylon Train Wash Facility.
Pennsylvania has applied
for a $1.6-million federal grant from the High-Speed Intercity Passenger Rail
Program to study possible expansion of rail service between Ohio and New York
State through Erie, Governor Edward G. Rendell said. If selected for the
federal grant, PennDOT will invest $400,000 in state funds to complete the
Los Angeles-area Metrolink
maintenance crews will be performing work along Metrolink's Ventura Line
railroad tracks Memorial Day weekend. The track maintenance activities will
include the removal and replacement of crossties, rail and concrete panels at the
railroad crossing at Lindley Avenue between Parthenia and Napa Streets.
National Coal Corp. said its
wholly-owned subsidiary NC Railroad Inc has sold a shortline railroad that runs
between Oneida and Devonia, Tenn., to R.J. Corman Railroad Property LLC for $3
million, the Knoxville News-Sentinel reports.
The Los Angeles County
Metropolitan Transportation Authority Board of Directors adopted a $3.8-billion
budget for Fiscal Year 2010-11. The spending plan is $47 million less than the
current Metro budget but still advances a variety of transportation
improvements for the region including a spate of new highway and transit
building projects. These are funded largely with federal stimulus funds and the
new Measure R transit sales tax.
A Colton, Calif.,
railroad overpass meant to unclog a crowded Southern California freight
corridor has been approved by a key state panel, ending a two-month logjam that
jeopardized the $202-million project, The Press-Enterprise reports. The
California Transportation Commission on May 19 unanimously agreed to spend $91
million in state transportation bond money to build the Colton Crossing. The
decision also frees $33.8 million in federal stimulus money for the project.
"The climate change and energy draft
legislation ‘The American Power Act' proposed by Senators John Kerry (D-Mass.)
and Joseph Lieberman (I-Conn.) undermines investment in one of the most-effective
tools consumers use to reduce our dependence on foreign oil and combat climate
change - public transportation," says a statement by American Public
Transportation Association President William Millar. The current climate change
and energy proposal diverts the vast majority of new transportation revenue to
areas other than public transit and transportation investment.
(The following statement
s issued by Los Angeles Metro CEO Art Leahy, with quotes from Los Angeles Mayor
Antonio Villaraigosa and MTA Board Chair Ara Najarian.) Today's action by the
California Transportation Commission (CTC) approving funding for Positive Train
Control is a major victory for our region. PTC is a major safety enhancement
for passenger rail service throughout the region.
While Worcester, mass., City
Manager Michael V. O'Brien has committed to coming back to the City Council in
three weeks with a deal to address issues associated with CSX Transportation's.
freight yard expansion plan, some doubts are being raised about whether the
biggest obstacle - finding a new roadway connection from Shrewsbury Street to
Franklin Street - can be achieved, the Telegram & Gazette reports.