LONDON, Ontario--(BUSINESS WIRE)--VersaBank (the “Bank”) today announced that a cash dividend in the amount of $0.025 per Common Share of the Bank has been declared for the quarter ending July 31, 2020, payable as of July 31, 2020, to shareholders of record at the close of business on July 3, 2020.
The Bank also announced that cash dividends in the amounts of $0.1693 per Series 1 Preferred Share of the Bank and $0.175 per Series 3 Preferred Share of the Bank have been declared for the quarter ending July 31, 2020, payable as of July 31, 2020, to shareholders of record at the close of business on July 3, 2020.
The dividends to which this notice relates are eligible dividends for tax purposes.
VersaBank adopted an electronic B2B 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 most 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.
The Bank is proud to announce it will celebrate 40 years in business in May 2020.