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