LONDON, February 26, 2020 /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 April 30, 2020, payable as of April 30, 2020, to shareholders of record at the close of business on April 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 April 30, 2020, payable as of April 30, 2020, to shareholders of record at the close of business on April 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.