CWB declares dividends in August 2022

Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share (TSX:CWB), payable on September 22, 2022 to shareholders of record on September 8, 2022. This quarterly dividend is the same as last quarter and is up two cents, or 7%, from the dividends declared one year ago. The Board of Directors also declared quarterly cash dividends for preferred shares of $0.2688125 per Series 5 and $0.375 per Series 9, payable on October 31, 2022 to shareholders of record on October 20, 2022.

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 2022, 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 2022 will be eligible dividends, unless otherwise indicated.