VERSABANK DECLARES DIVIDENDS

VersaBank (TSX: VBNK, NASDAQ: VBNK) has declared cash dividends of CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share for the quarter ending April 30, 2022.

Rhea-AI Summary

VersaBank (TSX: VBNK, NASDAQ: VBNK) has declared cash dividends of CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share for the quarter ending April 30, 2022. These dividends will be payable on April 30, 2022 to shareholders of record by the close of business on April 8, 2022. The declared dividends are eligible for tax purposes, emphasizing the Bank's commitment to returning value to its shareholders.

Positive

• Dividend of CAD $0.025 per Common Share enhances shareholder income.
• Dividend of CAD $0.1693 per Series 1 Preferred Share supports preferred shareholders.

Negative

• None.

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LONDON, ON, March 2, 2022 /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 and CAD $0.1693 per Series 1 Preferred Share of the Bank, have been declared for the quarter ending April 30, 2022, payable as of April 30, 2022, to shareholders of record at the close of business on April 8, 2022.

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

About VersaBank

VersaBank is a Canadian Schedule I chartered bank with a difference. VersaBank became the world's first fully digital financial institution when it adopted its highly efficient business-to-business model using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market in the pursuit of superior net interest margins while mitigating risk. VersaBank obtains all of its deposits and provides the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses. In addition, leveraging its internally developed IT security software and capabilities, VersaBank established wholly owned, Washington, DC-based subsidiary, DRT Cyber Inc. to pursue significant large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.

VersaBank's Common Shares trade on the Toronto Stock Exchange ("TSX") and Nasdaq under the symbol VBNK.  Its Series 1 Preferred Shares trade on the TSX under the symbol VBNK.PR.A. 

Visit our website at:  www.versabank.com

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SOURCE VersaBank

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the dividend amount declared by VersaBank for Common Shares?

VersaBank has declared a dividend of CAD $0.025 per Common Share.

When will the dividends for VersaBank be paid?

The dividends will be payable on April 30, 2022.

When is the record date for VersaBank's dividends?

The record date for the dividends is April 8, 2022.

Are the dividends declared by VersaBank eligible for tax purposes?

Yes, the declared dividends are eligible dividends for tax purposes.

What is the dividend amount for Series 1 Preferred Shares of VersaBank?

The dividend for Series 1 Preferred Shares is CAD $0.1693.