LONDON, Ontario--(BUSINESS WIRE)--VersaBank (TSX:VB) today announced that its Board of Directors have declared an increase on the quarterly cash dividends on its Common Shares (TSX:VB).
David Taylor, President and CEO, noted that this is the third increase in two years and amounts to an increase of 25% over the previous quarter’s dividend.
The Common Share dividend will increase from $0.020 to $0.025 per share and is payable, subject to the approval of the Toronto Stock Exchange (“TSX”), as of January 31, 2020 to shareholders of record at the close of business on January 3, 2020.
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 license 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.
