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CWB declares fourth quarter fiscal 2019 dividendsCanadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.28 per common share (TSX:CWB), payable on January 7, 2020 to shareholders of record on December 17, 2019. This quarterly dividend is up two cents, or 8%, from the dividend declared one year ago and consistent with 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 January 31, 2020 to shareholders of record on January 24, 2020.
CWB Financial Group partners with Temenos to deliver personalized, world-class digital experience for business ownersCWB Financial Group (TSX:CWB) takes another step forward as a disruptive force in Canadian financial services today with the selection of Temenos (SIX:TEMN), the leader in banking software, to deliver a seamless end-to-end digital banking experience for small- to medium-sized business owners.
CWB recognized on the 2019 List of Best Workplaces™ in AlbertaCWB Financial Group is proud to announce that our organization is on the 2019 list of Best Workplaces in Alberta.
CWB to redeem $250 million non-NVCC subordinated debenturesCanadian Western Bank (“CWB”) today announced its intention to redeem all $250 million of outstanding 3.463% Series E subordinated debentures (the “Debentures”) on November 18, 2019 (the “Redemption Date”). The Debentures will be redeemed at the Canada Yield Price (as defined in the related trust indenture) of $1,000.99 for each $1,000 principal amount of Debentures, plus accrued interest to, but excluding, the Redemption Date, which corresponds to an aggregate amount of $253,900,253. Formal notice will be delivered to the Debenture holders in accordance with the terms and conditions set forth in the related trust indenture. The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be paid using CWB’s general corporate funds. The Debentures do not qualify as non-viability contingent capital (“NVCC”) under the Basel III regulatory capital requirements, and the redemption is part of CWB's ongoing management of its Tier 2 capital.