MONTREAL, Aug. 16, 2022 (GLOBE NEWSWIRE) — The board of directors of Laurentian Bank of Canada (TSX: LB) (the “Bank”) today declared a dividend of $0.2576875 on the preferred shares series 13 payable on September 15, 2022 to shareholders of record at the close of records on September 7, 2022.
The dividends mentioned above are considered eligible dividends for the purposes of the income tax law (Canada) and any similar provincial or territorial law.
The Bank’s common shares are shares eligible for the Bank’s dividend reinvestment and stock purchase plan (the “Plan”). Accordingly, the holders of these shares may choose to reinvest their dividends in the form of new ordinary shares of the Bank. Under the terms of the Plan, the Bank may elect to purchase additional common shares on the open market or issue new common shares from treasury. In the case of a new issue, the Bank may decide to apply a discount of up to 5% of the investment price as defined in the Scheme. For the dividend on September 15, 2022, the Bank will issue new ordinary shares from treasury, without discount.
Holders of these shares may also make monthly cash payments to subscribe for 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 email at [email protected] or by mail at 1 500 Boul Robert-Bourassa, Montreal, QC H3A 3S8. Beneficial owners and non-registered holders of common shares and preferred shares should contact their financial institution or broker to enroll in this Plan.
Registered holders who participate in the Plan and wish to opt out of the Plan so that cash dividends to which they are entitled on or after September 15, 2022 are not reinvested in Common Shares under the Plan must provide written notice to the Company of Computershare Trust of Canada at the above address no later than September 7, 2022. Beneficial or Non-Registered Holders who participate in the Plan and who wish to opt out of the Plan in order for the cash dividends to which they are entitled to count September 15, 2022 are not reinvested in common shares under the Plan should contact their financial institution or broker for instructions on terminating their membership in the Plan before September 7, 2022.
About Laurentian Bank of Canada
At Laurentian Bank, we believe we can change the banking experience for the better. Seeing beyond the numbers.
Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities prosper. Today, we have over 2,900 employees who work together as one team to deliver a wide range of financial services and advisory-focused solutions to our clients across Canada and the United States. We protect, manage and grow $48.3 billion of on-balance sheet assets and $28.7 billion of assets under administration.
We get results by putting our customers first, making the best choice, acting with courage and believing that everyone has their place..