EDMONTON, AB, Aug. 30, 2024 /CNW/ - Canadian Western Bank (CWB)
today announced that its Board of Directors has declared a
quarterly cash dividend of $0.35 per
common share (TSX: CWB), payable on September 26, 2024, to
shareholders of record on September 12,
2024. This quarterly dividend is the same as last quarter
and up two cents, or 6%, from the
dividend declared one year ago. The Board of Directors also
declared quarterly cash dividends for preferred shares of
$0.3981875 per Series 5 and
$0.4781875 per Series 9, payable on
October 31, 2024, to shareholders of
record on October 22, 2024.
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 August 2024, 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 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 August 2024 will be eligible dividends, unless
otherwise indicated.
About CWB Financial Group
CWB is the only full-service financial institution in
Canada with a strategic focus to
meet the unique financial needs of businesses and their owners. We
provide nationwide full-service business and personal banking,
specialized financing, comprehensive wealth management offerings,
and trust services. Our teams deliver a uniquely proactive and
differentiated level of service to clients in targeted industries
where we have deep expertise. Clients choose CWB for our highly
personalized service, specialized expertise, customized solutions
and faster response times.
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.D" (Series 9 preferred shares). We
are firmly committed to the responsible creation of value for all
our stakeholders and our approach to sustainability will support
our continued success. Learn more at www.cwb.com.
SOURCE CWB Financial Group