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Bullboard - Stock Discussion Forum Laurentian Bank of Canada T.LB

Alternate Symbol(s):  LRCDF | LAUCF | T.LB.PR.H

Laurentian Bank of Canada (the Bank) is a Canada-based provider of financial services to its personal, commercial and institutional customers. The Bank operates in Canada and the United States. Its segments include Personal Banking, Commercial Banking and Capital Markets. The Personal Banking segment caters to the financial needs of retail clients. The Commercial Banking segment caters to the... see more

TSX:LB - Post Discussion

Laurentian Bank of Canada > declares dividend on its common shares
View:
Post by Betteryear2 on Sep 05, 2021 4:40pm

declares dividend on its common shares

MONTREAL, Sept. 01, 2021 (GLOBE NEWSWIRE) -- At its meeting held on August 31, 2021, the Board of Directors of Laurentian Bank of Canada (TSX: LB) (the “Bank”) declared a regular quarterly dividend of 40 cents per share on the Bank’s common shares payable on November 1, 2021 to the holders of record as at the close of business on October 1, 2021.

The above-mentioned dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

The Bank’s common shares are eligible shares under the Bank’s Shareholder Dividend Reinvestment and Share Purchase Plan (the “Plan”). Consequently, the holders of such shares may elect to reinvest their dividends in newly issued common shares of the Bank. Such purchases will be made at the applicable investment price as defined in the Plan, less a discount of 2%, and no brokerage commissions or service charges of any kind will apply.

In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional common shares in accordance with the terms of the Plan.

For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of common and preferred shares must contact their financial institution or broker for instructions on how to participate in the Plan.

Comment by DeanEdmonton on Sep 07, 2021 4:33am
So this makes me wonder how they got permission from OSFI to increase the dividend from zero, when none of the otehr Banks, who are all in much better shape, have not been able to increase their dividends. Has anyone heard the background on this?
Comment by carlocarli on Sep 07, 2021 8:32am
The quarterly dividend has been $0.40/share for a number of quarters. All banks are expected to obtain permission to increase the dividend and to buy back shares within a couple of months. Given the current level of earnings, LB could afford to raise its dividednd to $0.50/share.
Comment by DeanEdmonton on Sep 07, 2021 9:22am
My mistake, they reduced their dividend, I remebered it as them having eliminated it. Thanks for the info, it is clear now what is going on.
Comment by autofocus111 on Sep 20, 2021 5:22pm
Zero? Why are you even here? You obviously are not a shareholder.
Comment by DeanEdmonton on Sep 22, 2021 11:18am
I was a shareholder and I sold outt before the first big drop. I watch all of the Canadian Banks closely becasue they are a major part of my portfolio. If LB ever got their poop in a goup I would buy back in and I was hoping the new CEO and executive team would do that. So far, less than no joy on that front. My question to you is why you are here and why would you be holding shares in what is ...more  
Comment by autofocus111 on Sep 22, 2021 2:26pm
I am a value investor. LB has a P/B value well below 1, unlike the major Canadian banks that are priced well above 1. LB is minimally exposed to volatile and riskier brokerage business. And no US business exposure. TD recently bought a commercial lending business which LB has been focused on for some time... I wonder why?  I am in the green with LB and have no problem waiting for a turn ...more  
Comment by DeanEdmonton on Sep 23, 2021 10:38am
Well, like I have said many times, those differences in perspective is what makes a market. I hope you do well with your investment in LB, no one is well served by underperforming comanies, I hope they do get it turned around.
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