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Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.29 per common share (TSX:CWB), payable on June 24, 2021 to shareholders of record on June 10, 2021. This quarterly dividend is consistent with the dividends declared one year ago and last quarter. The Board of Directors also declared quarterly cash dividends for preferred shares of $0.2688125 per Series 5, $0.390625 per Series 7, and $0.375 per Series 9, all payable on July 31, 2021 to shareholders of record on July 23, 2021.
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The Only Bank Stock Worth Owning Right Now
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Canadian Western Bank (TSX:CWB) provides personal and business banking products and services primarily in Western Canada. The company offers a variety of bank accounts, leading products, equipment financing products, mortgages, secured lines of credit, registered retirement savings plan, vehicle loans, personal lines of credit and credit cards. The bank was incorporated in 1984 and is headquartered in Edmonton, Canada.
The company is extremely cheap with a price to earnings ratio of 10.49, price to book ratio of 0.97, dividend yield of 3.84% and market capitalization of $ 2.61 billion. Debt is moderate at Canadian Western Bank in comparison to the other major banks. The company has excellent performance metrics with an operating margin of 46.08% and a return on equity of 8.65%.