EDMONTON, Dec. 6, 2018 /CNW/ - Canadian Western Bank (CWB)
today announced that its Board of Directors has declared a
quarterly cash dividend of $0.26 per
common share (TSX:CWB), payable on January
3, 2019 to shareholders of record on December 14, 2018. This quarterly dividend is
consistent with the prior quarter and 8% higher than the dividend
declared one year ago. The Board of Directors also declared a cash
dividend of $0.275 per Series 5
Preferred Share (TSX:CWB.PR.B), and a cash dividend of
$0.390625 per CWB Series 7 Preferred Share (TSX: CWB.PR.C),
both payable on January 31, 2019 to
shareholders of record on January 22,
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 December 2018, 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 December 2018 will be eligible dividends, unless
otherwise indicated.
About CWB Financial Group
CWB Financial Group (CWB) 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
CWB Bank branches and online banking services provided by Motive
Financial. Highly responsive specialized financing is delivered
under the banners of CWB Equipment Financing, CWB National Leasing,
CWB Maxium Financial, CWB Franchise Finance and CWB Optimum
Mortgage. Trust Services are offered through Canadian Western
Trust. Comprehensive wealth management offerings are provided
through CWB Wealth Management, which includes the businesses of
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) and "CWB.PR.C" (Series 7 Preferred
Shares). Learn more at www.cwb.com.
SOURCE Canadian Western Bank