Canadian Western Bank
TSX : CWB

Canadian Western Bank

September 03, 2015 07:00 ET

Canadian Western Bank Declares Dividends

EDMONTON, ALBERTA--(Marketwired - Sept. 3, 2015) - Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.22 per common share (TSX:CWB), payable on September 24, 2015, to shareholders of record at the close of business on September 14, 2015. This quarterly dividend is consistent with the previous quarter and 10% higher than the quarterly dividend declared one year ago. The Board of Directors also declared a cash dividend of $0.275 per CWB Series 5 Preferred Share (TSX:CWB.PR.B) payable on October 31, 2015 to shareholders of record on October 21, 2015.

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. If issued from treasury, CWB may decide to apply a discount of up to 5% to the Average Market Price (as defined in the Plan) of the additional shares. For the dividends declared in September 2015, 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 (1-416-263-9200), CWB's transfer agent and registrar, 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 2015 will be eligible dividends, unless indicated otherwise.

About Canadian Western Bank Group

Canadian Western Bank offers a full range of business and personal banking services across the four western provinces and is the largest publicly traded Canadian bank headquartered in Western Canada. The Bank, along with its material operating affiliates, National Leasing Group, Canadian Western Trust, Canadian Western Financial, Adroit Investment Management, and McLean & Partners Wealth Management, collectively offer a diversified range of financial services across Canada and are together known as the CWB Group. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol "CWB". The Bank's Series 5 Preferred Shares trade on the Toronto Stock Exchange under the trading symbol "CWB.PR.B". Refer to www.cwb.com for additional information.

Contact Information

  • Matt Evans, CFA
    Assistant Vice President, Investor Relations
    Canadian Western Bank
    Phone: (780) 969-8337
    Email: matt.evans@cwbank.com