VersaBank Declares Dividends

Rhea-AI Summary

VersaBank (NASDAQ: VBNK) announced cash dividends of CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share for the quarter ending January 31, 2022. These dividends are payable on January 31, 2022, to shareholders on record as of January 7, 2022. The declared dividends are eligible for tax purposes.

Incorporating a fully digital banking model, VersaBank aims to profitably address underserved market segments, enhancing shareholder value through sustainable business practices.

Positive

• Declared dividends of CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share.
• Dividends are eligible for tax benefits, potentially attracting more investors.

Negative

• None.

LONDON, ON, Dec. 1, 2021 /PRNewswire/ - VersaBank (the "Bank") (TSX: VB) (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 January 31, 2022, payable as of January 31, 2022, to shareholders of record at the close of business on January 7, 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") under the symbol VB and Nasdaq under the symbol VBNK. Its Series 1 Preferred Shares trade on the TSX under the symbol VB.PR.A.

Visit our website at:  www.versabank.com

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SOURCE VersaBank

FAQ

What is the dividend amount for VersaBank (VBNK) announced on December 1, 2021?

VersaBank announced a dividend of CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share.

When will the dividends for VersaBank (VBNK) be paid?

The dividends will be paid on January 31, 2022.

Who is eligible to receive the dividends from VersaBank (VBNK)?

Shareholders of record as of January 7, 2022, are eligible to receive the dividends.

Are the dividends from VersaBank (VBNK) taxable?

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

What is the payout date for the dividends declared by VersaBank (VBNK)?

The payout date for the dividends is January 31, 2022.