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VersaBank to Increase Quarterly Dividend on Its Common Shares and Pay Dividends on Series 1 and Series 3 Preferred Shares

Attention: Business Editors

LONDON, May 29, 2019/BUSINESS WIRE/ – VersaBank (TSX:VB) today announced that its Board of Directors have declared quarterly cash dividends on its Common Shares (TSX:VB), 7.0% Series 1 Preferred Shares (TSX:VB.PR.A) and 7.0% Series 3 Preferred Shares (TSX:VB.PR.B).

The Common Share dividend, which will increase to $0.020 from $0.015 per share, and the Series 1 Preferred Share and Series 3 Preferred Share dividends of $0.175 per share are payable, subject to the approval of the Toronto Stock Exchange (“TSX”), as of July 31, 2019 to shareholders of record at the close of business on July 5, 2019.

The dividends to which this notice relates are eligible dividends for tax purposes.

About VersaBank

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.

For further information please contact:
Investor Relations: Wade MacBain, (800) 244-1509, [email protected]
Visit our website at: www.versabank.com