VERSABANK DECLARES DIVIDENDS

Rhea-AI Summary

VersaBank (TSX: VBNK; NASDAQ: VBNK) has announced a quarterly cash dividend declaration for its shareholders. The bank will distribute CAD $0.025 per Common Share for the quarter ending April 30, 2025. The dividend payment is scheduled for April 30, 2025, with the record date set for April 4, 2025. The company has confirmed these dividends qualify as eligible dividends for tax purposes.

Positive

• Regular dividend maintained, showing stable shareholder returns
• Dividend qualifies for tax advantages as eligible dividend

Negative

• Low dividend amount of CAD $0.025 per share

LONDON, ON, March 5, 2025 /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 April 30, 2025, payable as of April 30, 2025, to shareholders of record at the close of business on April 4, 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

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SOURCE VersaBank

FAQ

What is the dividend amount announced by VersaBank (VBNK) for Q2 2025?

VersaBank announced a quarterly dividend of CAD $0.025 per Common Share.

When is the payment date for VersaBank's (VBNK) latest dividend?

The dividend payment date is set for April 30, 2025.

What is the record date for VersaBank's (VBNK) Q2 2025 dividend?

The record date is April 4, 2025.

Are VersaBank's (VBNK) announced dividends eligible for tax purposes?

Yes, the announced dividends qualify as eligible dividends for tax purposes.