MONTREAL, Dec. 11, 2013 /CNW Telbec/ - Laurentian Bank of Canada's Board of Directors announces today an increase of the dividend on its common shares from 50 to 51 cents per common share. A regular quarterly dividend of 51 cents per share was declared and will be payable on February 1, 2014 to the holders on record at the close of business on January 2, 2014.
The above-mentioned dividend on the common shares is designated as an eligible dividend for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
The above-mentioned common shares are Eligible Shares under the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan. Consequently, the holders of such shares may elect to reinvest their dividends in newly issued Common Shares of the Bank. Such purchases will be made at the applicable Investment Price, less a discount of 2%, and no brokerage commissions or service charges of any kind will apply.
In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional Common Shares in accordance with the terms of the Plan. 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