Canadian Western Bank Sets New Dividend Rates

Canadian Western Bank (TSE:CWB) has released an update.

Canadian Western Bank has announced the dividend rates for its Series 5 and Series 6 Preferred Shares, with Series 5 holders receiving a fixed rate of 6.371% per annum and Series 6 holders to get a floating rate of 1.940% for the next quarter, annualized at 7.759%. Series 9 Preferred Shareholders are set to receive a fixed dividend rate of 7.651% per annum over the next five years. Shareholders who wish to convert their Series 5 shares into Series 6 shares must instruct their brokers to do so by April 15, 2024.

For further insights into TSE:CWB stock, check out TipRanks’ Stock Analysis page.