EDMONTON, AB, Dec. 2, 2022
/CNW/ - Canadian Western Bank (CWB) today announced that its Board
of Directors has declared a quarterly cash dividend of $0.32 per common share (TSX: CWB), payable on
January 5, 2023 to shareholders of
record on December 15, 2022. This
quarterly dividend is up one cent, or
3%, from the prior quarter and two
cents, or 7%, from the dividend 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 January 31, 2023 to
shareholders of record on January 24,
2023.
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 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 December 2022 will be eligible dividends, unless
otherwise indicated.
About CWB Financial
Group
CWB is the only full-service financial institution in
Canada with a strategic focus to
meet the unique financial needs of businesses and their owners. We
provide nation-wide full-service business and personal banking,
specialized financing, comprehensive wealth management offerings,
and trust services. Our teams deliver a uniquely proactive and
differentiated level of service to clients in targeted industries
where we have deep expertise. Clients choose CWB for our highly
personalized service, specialized expertise, customized solutions
and faster response times.
As a public company on the Toronto Stock Exchange (TSX), CWB
trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series
5 preferred shares) and "CWB.PR.D" (Series 9 preferred shares). We
are firmly committed to the responsible creation of value for all
our stakeholders and our approach to sustainability will support
our continued success. Learn more at www.cwb.com.
SOURCE CWB Financial Group