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CWB reports solid financial performance for fiscal 2019
“Fiscal 2019 was another strong year of operating performance and execution of our transformational strategy. We generated solid loan growth with further geographic and industry diversification, including strong 11% growth in Ontario and very strong 15% overall growth in the strategically targeted general commercial category,” said Chris Fowler, President and CEO. “We delivered a new record for branch-raised deposit growth of $1.5 billion with a 12% increase, including 14% growth in the demand and notice category. With solid profitable growth and very strong capital ratios, we also rewarded shareholders with an 8% increase to the common share dividend compared to 2018. Consistent strategic execution reflects the tremendous strength of our teams across the business, and we are committed to continue to create value for our people. We were pleased to be recognized this year as a Great Place to Work CanadaTM, and one of the Best WorkplacesTM in Alberta.”
CWB declares fourth quarter fiscal 2019 dividends
Canadian 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.
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