EDMONTON, Aug. 29, 2019 /CNW/ - Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.28 per common share (TSX: CWB), payable on September 27, 2019 to shareholders of record on September 13, 2019. This quarterly dividend is up two cents, or 8%, from the dividend declared one year ago and one cent, or 4%, from the prior quarter. The Board of Directors also declared quarterly cash dividends for preferred shares of $0.2688125 per Series 5, $0.390625 per Series 7, and $0.375 per Series 9, all payable on October 31, 2019 to shareholders of record on October 24, 2019.
In lieu of receiving their dividends in cash, holders of CWB's common and preferred shares may choose to have their dividends reinvested in additional common shares of CWB in accordance with the Dividend Reinvestment Plan (the Plan). Under the Plan, CWB has the discretion to either purchase the additional common shares in the open market or issue them from treasury. For the dividends declared in August 2019, common shares under the Plan will be purchased on the open market.
Any registered holder of record wishing to join the Plan can obtain an Enrolment Form from Computershare (1-800-564-6253) or in the Investor Relations section on CWB's website at www.cwb.com. Beneficial or non-registered holders of the Bank's common shares must contact their financial institution or broker to participate.
CWB, for the purposes of the Income Tax Act (Canada) and any similar provincial legislation, advises that its dividends declared in August 2019 will be eligible dividends, unless otherwise indicated.
About CWB Financial Group
CWB Financial Group (CWB) is a diversified financial services organization serving businesses and individuals across Canada. Operating from headquarters in Edmonton, Alberta, CWB's key business lines include full service business and personal banking offered through branch locations of Canadian Western Bank, including CWB Virtual Branch, and Internet banking services provided by Motive Financial. Highly responsive nation-wide specialized financing is delivered under the banners of CWB Optimum Mortgage, CWB Equipment Financing, CWB National Leasing, CWB Maxium Financial and CWB Franchise Finance. Trust services are offered through CWB Trust Services. Comprehensive wealth management offerings are provided through CWB Wealth Management, which includes the businesses of CWB McLean & Partners Wealth Management and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series 5 Preferred Shares), "CWB.PR.C" (Series 7 Preferred Shares) and "CWB.PR.D" (Series 9 Preferred Shares). Learn more at www.cwb.com.
SOURCE Canadian Western Bank
For further information: Chris Williams, AVP, Investor Relations, CWB Financial Group, Phone: 780-508-8229, Email: firstname.lastname@example.org