MONTREAL, May 18, 2016 /CNW Telbec/ - The Board of Directors of the Laurentian Bank of Canada declared today the following dividends:
- a dividend of $0.25 on the preferred shares Series 11, payable on June 15, 2016 to shareholders of record at the close of business on June 7, 2016.
- a dividend of $0.26875 on the preferred shares Series 13, payable on June 15, 2016 to shareholders of record at the close of business on June 7, 2016.
- an initial dividend of $0.36062 on the preferred shares Series 15, payable on June 15, 2016 to shareholders of record at the close of business on June 7, 2016.
The above-mentioned dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
The preferred shares are Eligible Shares under the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan. Consequently, the holders of such shares may elect to reinvest their dividends in newly issued Common Shares of the Bank. Such purchases will be made at the applicable Investment Price, less a discount of 2%, and no brokerage commissions or service charges of any kind will apply.
In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional Common Shares in accordance with the terms of the Plan.
For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of common and preferred shares must contact their financial institution or broker for instructions on how to participate in the Plan.
SOURCE Laurentian Bank of Canada
For further information: Louise Bergeron, Vice-President, Executive Office, Office: 514 284-4500, extension 4840, Cellular: 514 978-0453, [email protected]