VERSABANK DECLARES DIVIDENDS

Rhea-AI Summary

VersaBank (TSX: VBNK) (NASDAQ: VBNK) has announced a quarterly cash dividend of CAD $0.025 per Common Share for the quarter ending January 31, 2025. The dividend will be payable on January 31, 2025, to shareholders of record as of January 10, 2025. The company confirmed these dividends qualify as eligible dividends for tax purposes.

Positive

• Consistent dividend payment maintaining shareholder returns
• Dividend maintains tax-advantaged status as eligible dividend

Negative

• None.

News Market Reaction

-10.88%

1 alert

-10.88% News Effect

On the day this news was published, VBNK declined 10.88%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

LONDON, ON, Dec. 9, 2024 /PRNewswire/ - VersaBank (the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced that cash dividends in the amount of CAD $0.025 per Common Share of the Bank have been declared for the quarter ending January 31, 2025, payable as of January 31, 2025, to shareholders of record at the close of business on January 10, 2025.

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

About VersaBank

VersaBank is a North American bank (federally chartered in Canada and the U.S.) with a difference.  VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner.  Because VersaBank obtains substantially all of its deposits and undertakes the majority of its lending electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity.  In August 2024, VersaBank launched its unique Receivable Purchase Program (RPP) funding solution for point-of-sale finance companies, which has been highly successful in Canada for nearly 15 years, to the underserved multi-trillion-dollar U.S. market.  VersaBank also owns Washington, DC-based DRT Cyber Inc., a North America leader in the provision of cyber security services to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities.

VersaBank's Common Shares trade on the Toronto Stock Exchange ("TSX") and Nasdaq under the symbol VBNK. 

Visit our website at:  www.versabank.com

Follow VersaBank on Facebook, Instagram, LinkedIn and X (formerly Twitter)

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SOURCE VersaBank

FAQ

What is VersaBank's dividend amount for Q1 2025?

VersaBank (VBNK) declared a quarterly dividend of CAD $0.025 per Common Share for Q1 2025.

When is VersaBank's Q1 2025 dividend payment date?

VersaBank's dividend will be paid on January 31, 2025, to shareholders of record as of January 10, 2025.

Are VersaBank's dividends eligible for tax purposes?

Yes, VersaBank confirmed that these dividends are eligible dividends for tax purposes.

What is the record date for VersaBank's Q1 2025 dividend?

The record date for VersaBank's Q1 2025 dividend is January 10, 2025.