MONTREAL, Dec. 5, 2012 /CNW Telbec/ - Laurentian Bank of Canada's Board of Directors announces today an increase of the dividend on its common shares from 47 to 49 cents per common share. A regular quarterly dividend of 49 cents per share was declared and will be payable on February 1, 2013 to the holders on record at the close of business on January 3, 2013.
For the year 2012, all dividends declared were eligible dividends for income tax legislation purposes, including the dividend on the common shares declared on December 5, 2012.
Eligible shareholders may now elect to reinvest, at no cost, their dividends in additional common shares in accordance with the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan. Each quarter, under the terms of the Plan, the Board of Directors determines whether the common shares will be purchased on the market or issued from treasury.
The determination was made that common shares would be issued from treasury at a 2% discount from the investment price of the common shares (as defined in the Plan). Shareholders may also purchase additional common shares through optional cash payments. In that case, no discount will apply to such purchases.
For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of common and preferred shares must contact their financial institution or broker for instructions on how to participate in the Plan.
SOURCE LAURENTIAN BANK OF CANADA