NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Canadian Western Bank
TSX SYMBOL: CWB
MARCH 24, 2014
Canadian Western Bank to Redeem First Preferred Shares Series 3
EDMONTON, ALBERTA--(Marketwired - March 24, 2014) - Canadian Western Bank
(TSX:CWB) today reconfirmed its intention to redeem all of its issued and
outstanding non-cumulative 5-Year rate reset First Preferred Shares Series 3
(the "Series 3 Preferred Shares") on April 30, 2014 (the
Pursuant to its option under the share provisions, CWB will redeem the Series 3
Preferred Shares on the Redemption Date at a price of $25.00 per share together
with all declared and unpaid dividends. The declared dividends payable on April
30, 2014 will be paid to shareholders of record on April 23, 2014.
The redemption of the Series 3 Preferred Shares has been approved by the Office
of the Superintendent of Financial Institutions and required notice in
accordance with the share provisions has been issued to shareholders.
CWB recommends shareholders consult with their tax advisors to determine the
appropriate treatment for and impact of the redemptions.
About Canadian Western Bank Group
Canadian Western Bank offers a full range of business and personal banking
services across the four western provinces and is the largest publicly traded
Canadian bank headquartered in Western Canada. CWB, along with its operating
affiliates, National Leasing, Canadian Western Trust, Valiant Trust, Canadian
Direct Insurance, Canadian Western Financial, Adroit Investment Management, and
McLean & Partners Wealth Management, collectively offer a diversified range
of financial services across Canada and are together known as the CWB Group.
The common shares of Canadian Western Bank are listed on the Toronto Stock
Exchange under the trading symbol "CWB". CWB's Series 3 and
Series 5 preferred shares trade on the Toronto Stock Exchange under the trading
symbols "CWB.PR.A" and "CWB.PR.B", respectively. Refer to
www.cwb.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Western Bank
Kirby Hill, CFA
Vice President, Strategy & Communications
Canadian Western Bank
Tracey Ball, FCA
Executive Vice President & CFO
INDUSTRY: Financial Services - Commercial and Investment Banking, Financial
Services - Retail Banking
-0- Mar/24/2014 21:54 GMT
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