VersaBank Declares Dividends

VersaBank Declares Dividends

Canada NewsWire

LONDON, ON, Nov. 25, 2020 /CNW/ - VersaBank (the "Bank") (TSX: VB) today announced that a cash dividend in the amount of $0.025 per Common Share of the Bank has been declared for the quarter ending January 31, 2021, payable as of January 31, 2021, to shareholders of record at the close of business on January 8, 2020.

The Bank also announced that cash dividends in the amounts of $0.1693 per Series 1 Preferred Share of the Bank and $0.175 per Series 3 Preferred Share of the Bank have been declared for the quarter ending January 31, 2021, payable as of January 31, 2021, to shareholders of record at the close of business on January 8, 2020.

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 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. 

Visit our website at:  www.versabank.com

SOURCE VersaBank

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