LONDON, Ontario--(BUSINESS WIRE)--VersaBank (TSX:VB) today announced that its Board of Directors have declared quarterly cash dividends on its 6.772% Series 1 Preferred Shares (TSX:VB.PR.A) and 7.000% Series 3 Preferred Shares (TSX:VB.PR.B).
The Series 1 Preferred Share dividend of $0.1693 per share and Series 3 Preferred Share dividend of $0.1750 per share are payable, subject to the approval of the Toronto Stock Exchange (“TSX”), as of January 31, 2020 to shareholders of record at the close of business on January 3, 2020.
As previously announced, VersaBank will also pay a dividend of $0.0250 per Common Share, subject to the approval of the TSX, as of January 31, 2020 to shareholders of record at the close of business on January 3, 2020.
The dividends to which this notice relates are eligible dividends for tax purposes.
VersaBank adopted an electronic branchless model in 1993, becoming the world’s first branchless financial institution. It holds a Canadian Schedule I chartered bank licence and obtains its deposits, and the majority of its loans and leases, electronically. 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.