EDMONTON, Feb. 27, 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 March 26,
2020 to shareholders of record on March 12, 2020. This quarterly dividend is up
two cents, or 7%, from the dividend
declared one year ago and one cent,
or 4% from the prior 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 April 30, 2020 to shareholders of record on
April 23, 2020.
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 February 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 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 February 2020 will be eligible dividends, unless
otherwise indicated.
About CWB Financial Group
CWB Financial Group (CWB) is
a diversified financial services organization known for a highly
proactive client experience serving businesses and individuals
across Canada. Operating from
headquarters in Edmonton, Alberta,
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 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 CWB Financial Group
