By Micah Maidenberg

Canadian Pacific Railway Ltd. said Wednesday it believes it will generate double digit adjusted profit per share growth in 2021 relative to last year.

The company generated Canadian $17.67 a share, equivalent to $13.88 a share, in 2020. The company also said it expects to spend C$1.55 billion on capital project during the new year.

"The momentum we've created in the fourth quarter will continue into 2021," Chief Executive Keith Creel said in a statement.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

01-27-21 1647ET