Canadian Western Bank delays earnings release without saying why

TORONTO — Canadian Western Bank says it has delayed the release of its fourth quarter financial results without saying why.

The bank, which was scheduled to release results Friday, says it will instead put them out in mid-December.

CWB’s shares fell almost 12 per cent in morning trading on the Toronto Stock Exchange and was still down almost five per cent by mid-afternoon.

National Bank is currently working to buy CWB in a deal that’s expected to close by the end of 2025.

The takeover has shareholder and Competition Bureau approval, but still requires the go-ahead from Canada’s banking regulator and the finance minister.

The bank on Friday declared it had raised its quarterly dividend by three per cent from the previous quarter to 36 cents.

This report by The Canadian Press was first published Dec. 6, 2024.

Companies in this story: (TSX:CWB)

The Canadian Press