CWB declares dividends in December 2020

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 January 7, 2021 to shareholders of record on December 17, 2020. This quarterly dividend is up one cent, or 4%, from the dividend declared one year ago and consistent with last 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, 2021 to shareholders of record on January 22, 2021.

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 December 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 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 December 2020 will be eligible dividends, unless otherwise indicated.

FOR FURTHER INFORMATION CONTACT:

Chris Williams
AVP, Investor Relations
Phone: (780) 508-8229
Email: [email protected]