MONTREAL, June 3, 2015 /CNW Telbec/ - Laurentian Bank of Canada's Board of Directors announces today an increase of the dividend on its common shares from 54 to 56 cents per common share. A regular quarterly dividend of 56 cents per share was declared and will be payable on August 1, 2015 to the holders on record at the close of business on July 2, 2015.
The above-mentioned dividend on the common shares is designated as an eligible dividend for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
The above-mentioned common shares are Eligible Shares under the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan. For the dividend payable on August 1, 2015, the Bank has determined, in accordance with the terms of the Plan, that shares will, until further notice, be purchased in the open market. Consequently, no discount will apply to such purchases.
In addition, holders may continue 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 shares must contact their financial institution or broker for instructions on how to participate in the Plan.
SOURCE Laurentian Bank of Canada
Gladys Caron, Vice-President,Public Affairs, Communications and Investor Relations, Office: (514) 284-4500, extension 7511, Cellular: (514) 893-3963, gladys.caron@banquelaurentienne.caCopyright CNW Group 2015