Laurentian Bank of Canada Announces Increased Common Share Dividend
MONTREAL, Dec. 09, 2022 (GLOBE NEWSWIRE) -- At its meeting held on December 8, 2022, the Board of Directors of Laurentian Bank of Canada (TSX: LB) (the “Bank”) has approved an increase of $0.01 on its common shares and declared a regular quarterly dividend of 46 cents per share on the common shares’ payable on February 1, 2023 to the holders of record at the close of business on January 3, 2023.
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 by phone at 1-800-564-6253 or by e-mail at email@example.com, or by mail 1500 Robert-Bourassa Blvd, Montreal, QC H3A 3S8. 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.
Registered holders who participate in the Plan who wish to terminate their participation so that cash dividends to which they are entitled to be paid on and after February 1, 2023 are not reinvested in common shares under the Plan, must deliver written notice to Computershare Trust of Canada at the above-mentioned address by no later than January 3, 2023. Beneficial or non-registered holder who participate in the Plan and who wish to terminate their participation so that cash dividends to which they are entitled to be paid on and after February 1, 2023 are not reinvested in common shares under the Plan must contact their financial institution or broker for instructions on how to terminate participation in the Plan in advance of January 3, 2023.
About Laurentian Bank of Canada
At Laurentian Bank, we believe we can change banking for the better. By seeing beyond numbers.
Founded in Montréal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have approximately 3,000 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. We protect, manage and grow $50.7 billion in balance sheet assets and $27.2 billion in assets under administration.
We drive results by placing our customers first, making the better choice, acting courageously, and believing everyone belongs.
Senior Manager, Media Relations
Laurentian Bank of Canada