ATB Financial positioned to declare $100 Million of Dividends to Alberta Government

First-ever ATB Dividends to its Shareholder—the Alberta Government

EDMONTON, AB, Feb. 29, 2024 /CNW/ - ATB Financial announced today the Alberta-built organization is positioned to declare quarterly dividends totalling $100 million in fiscal 2025 to its Shareholder—the Alberta Government. The dividends, subject to the approval of its Board of Directors, would be the first-ever dividends since ATB Financial became a commercial Crown corporation.

As a full-service financial institution, and the largest financial institution headquartered in Western Canada, ATB Financial provides personal, business, agriculture, corporate, investment banking and wealth management services to more than 800,000 clients in more than 280 locations.

"This marks a significant milestone in ATB Financial's history. As an organization, we've grown alongside Alberta, its economy and its businesses to have one of the strongest balance sheets of any regional bank in North America, while maintaining some of the most affordable fees in the market," said Curtis Stange, President and CEO, ATB Financial. "ATB's peers at other financial institutions pay dividends to their shareholders. The Alberta Government is ATB's Shareholder, and ATB's growth is providing additional resources to the government through dividends and annual earnings returns. This helps build a stronger Alberta now and for the future."

Since becoming a commercial Crown corporation in 1997, ATB Financial has returned nearly $7 billion directly to the Alberta Government in earnings and injected multiples of that figure into the provincial economy. Through ATB's personalised solutions and expert advice to its clients, additional benefits come in terms of GDP, labour income, and jobs supported.

"These dividends signify more than just returns on investment; they symbolise the enduring trust and collaborative partnership between ATB Financial and Alberta," said Joan Hertz, Board Chair of ATB Financial's Board of Directors. "This is a testament to strong governance and strong performance."

As a trusted financial institution, ATB Financial complies with top-tier global risk management regulatory guidance for capital and liquidity management—and holds itself accountable to compete on a level playing field with other financial institutions. Subject to the approval of its Board and given no unforeseen events, ATB Financial is positioned to declare dividends in fiscal year 2025 in quarterly installments.

About ATB Financial

With $60.2 billion in assets, ATB Financial is a leading financial institution that started in Alberta with the focus of putting people first. Our success comes from our more than 5,000 team members who love to deliver exceptional experiences to over 800,000 clients across our Personal and Business Banking, ATB Wealth Management and ATB Capital Markets businesses. ATB provides expert advice, services and products through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres and our digital banking options. ATB powers possibilities for our clients, communities and beyond. More information about ATB can be found at atb.com.

For more information or interview requests, please contact:
ATB Financial, Media Relations Team [email protected]

SOURCE ATB Financial