CWB declares dividends in December 2020

CWB declares dividends in December 2020

EDMONTON, AB, Dec. 4, 2020 /CNW/ - Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.29 per common share (TSX: CWB), payable on January 7, 2021 to shareholders of record on December 17, 2020. This quarterly dividend is up one cent, or 4%, from the dividend declared one year ago and consistent with last 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, 2021 to shareholders of record on January 22, 2021.

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 2020, common shares under the Plan will be purchased on the open market.

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 2020 will be eligible dividends, unless otherwise indicated.

About CWB Financial Group
CWB is a diversified financial services organization known for a highly proactive client experience serving businesses and individuals across Canada. CWB's key business lines include full service business and personal banking offered through branch locations of Canadian Western Bank and Internet banking services provided by Motive Financial. Highly responsive nation-wide specialized financing is delivered under the banners of CWB Optimum Mortgage, CWB Equipment Financing, CWB National Leasing, CWB Maxium Financial and CWB Franchise Finance. Trust services are offered through CWB Trust Services. Comprehensive wealth management services are provided through CWB Wealth Management and its affiliate brands, including T.E. Wealth, Leon Frazer & Associates, CWB McLean & Partners, and Canadian Western Financial. 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), "CWB.PR.C" (Series 7 Preferred Shares) and "CWB.PR.D" (Series 9 Preferred Shares). Learn more at www.cwb.com.

SOURCE CWB Financial Group