The Montreal-based regional bank Laurentian Bank of Canada (LB) slashed its quarterly dividend, the first payout cut by a large Canadian lender in almost three decades.
The dividend is reduced from 67 cents to 40 cents, a 40% reduction. Hence, Laurentian Bank of Canada will be deleted from the S&P/TSX Canadian Dividend Aristocrats Index. This change will be effective prior to the open of trading on Thursday, July 2, 2020.
