EDMONTON, March 7, 2019 /CNW/ - Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.27 per common share (TSX:CWB), payable on March 29, 2019 to shareholders of record on March 15, 2019. This quarterly dividend is up two cents, or 8%, from the dividend declared one year ago and one cent, or 4%, from the previous quarter. The Board of Directors also declared a cash dividend of $0.275 per Series 5 Preferred Share, a cash dividend of $0.390625 per Series 7 Preferred Share, and an initial cash dividend of $0.3832 per Series 9 Preferred Share all payable on April 30, 2019 to shareholders of record on April 23, 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 March 2019, CWB has elected to issue common shares for the Plan from treasury at the Average Market Price (as defined in the Plan).
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 March 2019 will be eligible dividends, unless otherwise indicated.
About CWB Financial Group
CWB Financial Group is a diversified financial services organization serving businesses and individuals across Canada. Operating from its headquarters in Edmonton, Alberta, CWB's key business lines include full service business and personal banking offered through branches of Canadian Western Bank, and Internet banking services provided by Motive Financial. Highly responsive 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 Canadian Western Trust. 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: [email protected]