National Bank of Canada announces two-for-one share split by way of a share
MONTREAL, Dec. 4, 2013 /CNW Telbec/ - National Bank of Canada (the "Bank")
(NA) announces today that its Board of Directors has approved a 2-for-1 share
split of its outstanding common shares. This share split will take the form of
a share dividend whereby shareholders will receive one common share for each
common share held.
The record date for the share dividend will be Thursday, February 6, 2014 and
the payment date will be Thursday, February 13, 2014.
Shareholders do not need to take any action in order to receive this share
dividend. Computershare Trust Company of Canada, the Bank's transfer agent,
will send to registered shareholders an advice under the Direct Registration
System indicating the number of additional shares that they received as a
result of the share dividend. These additional common shares will be held in
book entry form and registered electronically in the transfer agent's
recordkeeping system, unless a physical share certificate is requested by the
registered shareholder. Beneficial owners with common shares held through a
brokerage account will have their accounts automatically updated to reflect
the share dividend.
The Toronto Stock Exchange has determined to implement due bill trading in
connection with the share dividend. A due bill is an entitlement attached to
listed securities undergoing a material corporate action, such as a share
split. In this instance, anyone purchasing a common share of the Bank during
the period commencing two trading days before the record date (i.e. Tuesday,
February 4, 2014) and ending on the payment date (i.e. Thursday, February 13,
2014) inclusively, shall receive a payable right, meaning the right to receive
the paid share dividend provided that person still holds the common shares on
the payment date. Any trades that are executed on the Toronto Stock Exchange
during this period will be flagged to ensure purchasers receive the
entitlement to the share dividend. Ex-dividend trading in the common shares on
a dividend-adjusted basis will commence on Friday, February 14, 2014. The due
bill redemption date will be Tuesday, February 18, 2014.
No Canadian income tax will be payable by shareholders in respect of the share
dividend, and the share dividend will not dilute shareholders' equity. All
share and per share data for future periods will reflect the share dividend.
For more information, shareholders and beneficial owners should consult their
own tax advisor.
A series of questions and answers explaining some of the key features of the
share dividend is available on the Bank's website at www.nbc.ca.
About National Bank of Canada
With $188 billion in assets as at October 31, 2013, National Bank of Canada
(www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and was named among the 20 strongest banks in the
world by Bloomberg Markets magazine. The Bank has close to 20,000 employees
and is widely recognized as a top employer. Its securities are listed on the
Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social
media and learn more about its extensive community involvement at
clearfacts.ca and commitment.nationalbank.ca.
SOURCE National Bank of Canada
(The telephone numbers provided below are for the exclusive use of
journalists, other media representatives and shareholders.)
Claude Breton Vice-President, Public Affairs National Bank of Canada Tel.:
Hélène Baril Assistant Senior Director, Investor Relations National Bank of
Canada Tel.: 514-394-0296
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CO: National Bank of Canada
NI: FIN FIN DIV
-0- Dec/04/2013 12:23 GMT
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