EDMONTON, AB, Dec. 4, 2020 /CNW/ - Canadian Western Bank (CWB)
today announced that its Board of Directors has declared a
quarterly cash dividend of $0.29 per
common share (TSX: CWB), payable on January
7, 2021 to shareholders of record on December 17, 2020. This quarterly dividend is up
one cent, or 4%, from the dividend
declared one year ago and consistent with last 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
January 31, 2021 to shareholders of
record on January 22, 2021.
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 December 2020, 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 CWB'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 December 2020 will be eligible dividends, unless
otherwise indicated.
About CWB Financial Group
CWB is a diversified
financial services organization known for a highly proactive client
experience serving businesses and individuals across Canada. CWB's key business lines include full
service business and personal banking offered through branch
locations of Canadian Western Bank 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
services are provided through CWB Wealth Management and its
affiliate brands, including T.E. Wealth, Leon Frazer & Associates, CWB McLean &
Partners, 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 CWB Financial Group