EDMONTON, AB, March 2, 2023 /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 March 23, 2023 to shareholders of record on March 9, 2023. This quarterly dividend is the same as last quarter and is up 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 April 30, 2023 to shareholders of record on April 21, 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 March 2023, 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 March 2023 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
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