VERSABANK DECLARES DIVIDENDS

VersaBank (TSX: VBNK) (NASDAQ: VBNK) has announced its quarterly dividend declaration for the period ending October 31, 2024.

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Rhea-AI Summary

VersaBank (TSX: VBNK) (NASDAQ: VBNK) has announced its quarterly dividend declaration for the period ending October 31, 2024. The bank will pay CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share. These dividends are payable on October 31, 2024, to shareholders of record as of the close of business on October 4, 2024. VersaBank has confirmed that these dividends qualify as eligible dividends for tax purposes, which may have implications for shareholders' tax planning strategies.

Positive

Consistent dividend payment demonstrates financial stability
Dividend declaration signals confidence in the bank's performance
Eligible dividend status may provide tax benefits for shareholders

Negative

None.

Argus Session date unavailable

-4.19% session move Open Argus

Details

News Market Reaction – VBNK

The recorded move for VBNK in the trading session of this news was -4.19%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

09/05/2024 - 07:00 AM EDT

LONDON, ON, Sept. 5, 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 and CAD $0.1693 per Series 1 Preferred Share of the Bank, have been declared for the quarter ending October 31, 2024, payable as of October 31, 2024, to shareholders of record at the close of business on October 4, 2024.

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. Its Series 1 Preferred Shares trade on the TSX under the symbol VBNK.PR.A.

Visit our website at: www.versabank.com

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/versabank-declares-dividends-302238603.html

SOURCE VersaBank

FAQ

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

What is the dividend amount for VersaBank (VBNK) common shares in Q4 2024?

VersaBank has declared a dividend of CAD $0.025 per Common Share for the quarter ending October 31, 2024.

When is the ex-dividend date for VersaBank's (VBNK) Q4 2024 dividend?

The ex-dividend date is not specified in the press release. Shareholders of record at the close of business on October 4, 2024, will be eligible for the dividend.

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

Yes, VersaBank has confirmed that the declared dividends are eligible dividends for tax purposes.

What is the dividend amount for VersaBank's (VBNK) Series 1 Preferred Shares in Q4 2024?

VersaBank has declared a dividend of CAD $0.1693 per Series 1 Preferred Share for the quarter ending October 31, 2024.

When will VersaBank (VBNK) pay its Q4 2024 dividends?

VersaBank will pay the declared dividends on October 31, 2024.

VERSABANK DECLARES DIVIDENDS