Laurentian Bank Financial Group declares dividends on its preferred shares

MONTREAL, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Laurentian Bank of Canada (TSX: LB) (the "Bank") announces that its Board of Directors declared today the following dividends:

• a dividend of $0.2576875 on the preferred shares Series 13, payable on September 15, 2020, to shareholders of record at the close of business on September 8, 2020.
  
  
• a dividend of $0.365625 on the preferred shares Series 15, payable on September 15, 2020, to shareholders of record at the close of business on September 8, 2020.

The above-mentioned dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

The preferred shares are Eligible Shares under the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan (the "Plan"). Consequently, the holders of such shares may elect to reinvest their dividends in newly issued common shares of the Bank. Such purchases will be made at the applicable Investment Price under the Plan, less a discount of 2%, and no brokerage commissions or service charges of any kind will apply.

In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional common shares in accordance with the terms of the Plan.

For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of common and preferred shares must contact their financial institution or broker for instructions on how to participate in the Plan.

About Laurentian Bank Financial Group

Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group (the "Group" or the "Bank").

With more than 3,100 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its personal, business and institutional customers. With pan-Canadian activities and a presence in the U.S., the Group is an important player in numerous market segments.

The Group has $45.4 billion in balance sheet assets and $27.1 billion in assets under administration.

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