- Laurentian Bank (LB) declares a dividend of $0.26 on the preferred shares Series 13
- Dividends will be paid on September 15th
- Laurentian Bank (LB) is a diversified financial services provider whose mission is to help customers improve their financial health
- Laurentian Bank (LB) is up today, trading at C$42.77 as of Aug 16, 2022, 1:36pm ET
Laurentian Bank (LB) has declared a dividend of $0.26 on the preferred shares Series 13.
Dividends will be paid on September 15th to shareholders who own shares no later than September 7th.
Dividends are designated as eligible dividends due to the Income Tax Act.
The preferred shares are considered ‘eligible shares’ under the Bank’s Shareholder Dividend Reinvestment and Share Purchase Plan (plan). Consequently, the holders of such shares may elect to reinvest their dividends in newly issued common shares of the bank. At the bank’s discretion, a purchase of additional common shares can be made either in the open market or issue them from treasury. If issued from treasury, the bank may decide to apply a discount of up to 5 per cent to the ‘investment price’ of the additional shares. For the September 15th dividend, the bank will issue the additional shares from treasury, with no discount.
Terms of the plan include entitlement to make monthly optional cash payments to purchase additional common shares.
Registered holders should contact their financial institution or broker for instructions should they wish to participate or terminate participation in the plan before September 7, 2022.
Laurentian Bank (LB) is a diversified financial services provider whose mission is to help customers improve their financial health.
Laurentian Bank (LB) is up today, trading at C$42.77 as of Aug 16, 2022, 1:36pm ET.