MONTREAL, Dec. 10, 2014 /CNW Telbec/ - Laurentian Bank of Canada's Board of Directors announces today an increase of the dividend on its common shares from 52 to 54 cents per common share. A regular quarterly dividend of 54 cents per share was declared and will be payable on February 1, 2015 to the holders on record at the close of business on January 2, 2015.
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. Since the launch of the Plan, shareholders could elect to reinvest their dividends in newly issued Common Shares. For the dividend payable on February 1, 2015, the Bank has determined, in accordance with the terms of the Plan, that shares will, until further notice, be purchased in the open market. Consequently, no discount will apply to such purchases.
In addition, holders may continue to make monthly optional cash payments to purchase additional Common Shares in accordance with the terms of the Plan.
For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of shares must contact their financial institution or broker for instructions on how to participate in the Plan.
SOURCE: Laurentian Bank of Canada