Laurentian Bank of Canada Launches its Dividend Reinvestment Plan
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MONTREAL, Dec. 5, 2012 /CNW Telbec/ - Laurentian Bank of Canada (TSX: LB)
("Bank") is pleased to announce the introduction of its Shareholder Dividend
and Share Purchase Plan (the "Plan").
"We are very pleased to announce the implementation of our dividend
reinvestment and stock purchase plan", indicated Michel Lauzon, Executive
Vice-President and Chief Financial Officer. "In introducing this program, we
are enabling our common and preferred shareholders to enjoy the benefits of
purchasing Bank stock without incurring any brokerage charges" added M. Lauzon.
General description of the Plan
The Plan offers eligible Canadian holders of either common shares or Class A
Preferred Shares the opportunity to have their regular quarterly cash
dividends automatically reinvested in additional common shares of the Bank
("Common Shares"). Participants may also purchase Common Shares monthly with
optional cash payments of a minimum amount of $500 per payment, up to an
aggregate sum of $20,000 in each twelve month period ending October 31. No
brokerage commissions, fees or services charges are to be paid by the
participants in connection with purchases of such Common Shares under the Plan.
According to the Plan, the Bank will determine whether such Common Shares will
be purchased from treasury or in the open market.
When Common Shares are to be purchased from treasury, participants may benefit
from a discount of up to 5% from the investment price. No discount will be
applied for Common Shares purchased in the open market or with optional cash
Computershare Trust Company of Canada has been designated as the Plan agent
and will act on behalf of the participants. Eligible owners whose shares are
registered in their name may enroll via Computershare Trust Company of Canada
by completing and submitting the enrollment form available at
Eligible owners who hold their shares in the name of a nominee such as a
broker, investment dealer or financial institution, should contact their
nominee to inquire about enrollment.
The full text of the Plan is now available at www.laurentianbank.com/drip and
on Computershare's website, at www.investorcentre.com/laurentianbank.
The Plan is in place for the next dividend payment
At its board meeting held on December 5, 2012, the Bank declared a dividend of
$ 0.49 per Common Share and determined that reinvestments would be made in
Common Shares issued from treasury at a 2% discount from the investment price.
Additional details are set out in the Bank's press release relating to the
quarterly dividends published today.
To participate in the Plan in time for the reinvestment of these dividends
payable on February 1, 2013, eligible owners whose shares are registered in
their name must enroll by no later than December 20, 2012. Eligible owners
who hold their shares in the name of a nominee should contact their nominee to
inquire about the timing of their enrolment. Enrollment under the Plan can
otherwise be made at any time.
About Laurentian Bank
Laurentian Bank of Canada is a pan-Canadian banking institution that has
nearly $35 billion in balance sheet assets and $33 billion in assets under
administration. Founded in 1846, Laurentian Bank was selected in 2012 as one
of the 10 winners of the Canada's Passion Capitalists program in recognition
of its sustained success through the promotion of passion within its ranks.
The Bank employs more than 4,200 employees.
Recognized for its excellent service, proximity and simplicity, Laurentian
Bank serves more than one million clients in market segments in which it holds
an enviable position. In addition to occupying a choice position among
consumers in Québec, where it operates the third largest branch network, the
Bank has built a solid reputation across Canada in the area of real estate and
commercial financing thanks to its teams working out of more than 35 offices
in Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank,
is a Canadian leader in providing banking products as well as investment
accounts and services to financial advisors and brokers, while Laurentian Bank
Securities is an integrated broker, widely recognized for its expertise and
Gladys Caron Vice-President, Public Affairs, Communications and Investor
Relations 514 284-4500, extension 7511 Gladys.email@example.com
SOURCE: LAURENTIAN BANK OF CANADA
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CO: LAURENTIAN BANK OF CANADA
NI: FIN DIV NP
-0- Dec/05/2012 14:12 GMT
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