EDMONTON, ALBERTA - CWB today announced that its Board of Directors has declared a quarterly cash dividend of $0.23 per common share (TSX:CWB), payable on September 29, 2016 to shareholders of record on September 15, 2016. This quarterly dividend is consistent with the prior quarter and up 5% from the 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), and a cash dividend of $0.390625 per CWB Series 7 Preferred Share (TSX:CWB.PR.C), payable on October 31, 2016 to shareholders of record on October 20, 2016.
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 2016, 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 August 2016 will be eligible dividends, unless indicated otherwise.
For further information, please contact:
Matt Evans, CFA
Senior AVP, Strategy & Investor Relations
Canadian Western Bank
Phone: (780) 969-8337
E-mail: [email protected]