Pacific & Western declares annual dividend on Class "A" Preferred Shares

LONDON, ON, Dec. 10 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) will pay an annual dividend on its outstanding Class "A" Preferred Shares on December 31, 2009 at the rate of $0.21 per share, unchanged from last year.

The provisions for the Class "A" Preferred Shares provide that the dividends accrue from the date of issue and are payable on December 31st of each year at the annual rate of 7% of the issue price.

The dividends to which this notice relates are payable on December 31, 2009 to shareholders of record at the close of business on December 21, 2009.

Pacific & Western Credit Corp.'s Class "A" Preferred Shares trade on the TSX under the symbol PWC.PR.A.

Pacific & Western Bank of Canada (PWBank) is wholly owned by Pacific & Western Credit Corp. PWBank, a Schedule I chartered bank, is a branchless financial institution with approximately $1.4 billion in assets. PWBank specializes in providing financing to relatively low risk markets that include government entities including hospitals, school boards, universities and colleges, municipalities, provincial and federal government agencies, and insured residential mortgages.

On behalf of the Board of Directors: David R. Taylor, President & C.E.O.

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For further information: Director, Investor Relations, Wade MacBain, [phone], [e-mail]; Public Relations & Media: Tel Matrundola, Vice-President, [phone], [e-mail]; Visit our website at: http://www.pwbank.com