AP NEWS

VersaBank to Increase Quarterly Dividends on Its Common Shares by 50% and Pay Dividends on Series 1 and Series 3 Preferred Shares

November 28, 2018

LONDON, Ontario--(BUSINESS WIRE)--Nov 28, 2018--VersaBank (TSX:VB) today announced that its Board of Directors have declared quarterly cash dividends on its Common Shares (TSX:VB), 7.0% Series 1 Preferred Shares (TSX:VB.PR.A) and 7.0% Series 3 Preferred Shares (TSX:VB.PR.B).

The Common Share dividend, which will increase from $0.010 to $0.015 per share as well as the Series 1 Preferred Share and Series 3 Preferred Share dividends of $0.175 per share are payable, subject to the approval of the Toronto Stock Exchange (“TSX”), as of January 31, 2019 to shareholders of record at the close of business on January 4, 2019.

The dividends to which this notice relates are eligible dividends for tax purposes.

About VersaBank

VersaBank adopted an electronic branchless model in 1993, becoming the world’s first branchless financial institution. It holds a Canadian Schedule I chartered bank license and obtains its deposits, and the majority of its loans and leases, electronically. VersaBank’s Common Shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares and Series 3 Preferred Shares trade under the symbols VB.PR.A and VB.PR.B, respectively.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181128005084/en/

CONTACT: Investor Relations: Wade MacBain, (800) 244-1509,wadem@versabank.com

Visit our website at:http://www.versabank.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: VersaBank

Copyright Business Wire 2018.

PUB: 11/28/2018 07:00 AM/DISC: 11/28/2018 07:01 AM

http://www.businesswire.com/news/home/20181128005084/en

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