MONTREAL, June 1, 2016 /CNW Telbec/ - Laurentian Bank of Canada's Board of Directors announces an increase of the dividend on its common shares from 58 to 60 cents per common share. A regular quarterly dividend of 60 cents per share was declared and will be payable on August 1, 2016 to the holders on record at the close of business on July 4, 2016.
The above-mentioned dividend on the common shares is designated as an eligible dividend for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
The above-mentioned common 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 may continue 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 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]