LONDON, Ontario--(BUSINESS WIRE)--VersaBank (TSX:VB) today announced that its Board of Directors have declared quarterly cash dividends on its 7.0% Series 1 Preferred Shares (TSX:VB.PR.A) and 7.0% Series 3 Preferred Shares (TSX:VB.PR.B).
The Series 1 Preferred Share dividend of $0.175 per Series 1 Preferred Share is payable, subject to the approval of the Toronto Stock Exchange (“TSX”), as of July 31, 2017 to shareholders of record at the close of business on July 7, 2017.
The Series 3 Preferred Share dividend of $0.175 per Series 3 Preferred Share is payable, subject to the approval of the TSX, as of July 31, 2017 to shareholders of record at the close of business on July 7, 2017.
The dividends to which this notice relates are eligible dividends for tax purposes.
VersaBank, a technology based and digital Canadian Schedule I chartered bank, operates using an "electronic branchless model". It obtains deposits, along with consumer and commercial loan and lease receivables, electronically. The Bank also makes residential development and commercial mortgages it obtains through a well-established network of brokers and through direct contact with its lending staff. VersaBank’s Common Shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares and Series 3 Preferred Shares trade under the symbols VB.PR.A and VB.PR.B, respectively.
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