VersaBank announced on June 3rd that its board has approved a quarterly cash dividend for common shares, set at C$0.025 per share.

The dividend will be paid on July 31, 2026, to shareholders of record as of the close of business on July 10, 2026, and is designated as an eligible dividend for Canadian income tax purposes.

The dividend declaration coincides with the release of the company's financial results for the second quarter of its 2026 fiscal year.

The quarterly report revealed robust performance, with adjusted earnings per share reaching C$0.39, significantly surpassing analyst expectations of C$0.28.

Revenue for the quarter was C$38.3 million, a 27% increase year-over-year, which also substantially exceeded the market's forecast of C$24.95 million.

The strong results were primarily driven by a 28% quarter-over-quarter growth in the U.S. Structured Receivables Program investment portfolio, coupled with better-than-expected expansion of the Canadian operations.

Total assets grew by 28% year-over-year to a record C$6.3999 billion.

Adjusted net profit increased by 45% year-over-year to C$12.4 million.

Net interest income rose by 27% year-over-year to C$35.7 million, while the net interest margin on credit assets expanded to 2.71% from 2.59% in the prior year period.

David Taylor, the company's founder and President, stated that the 38% year-over-year growth in adjusted net profit, which significantly outpaced the healthy 25% growth in credit assets, demonstrates the ongoing benefits of the operating leverage inherent in the company's business model.

He noted that the U.S. digital banking operations delivered a net profit of C$3.6 million, a substantial increase from C$133,000 in the same period last year.

VersaBank is a branchless, business-to-business digital bank holding federal licenses in both Canada and the United States.

The company also wholly owns DRT Cyber Inc., based in Minnesota, a leading North American provider of cyber security services to financial institutions, multinational corporations, and government entities.

Notably, VersaBank has initiated a pilot project for an AI-driven, real-time Structured Receivables Program and has begun accepting deposits of QCAD, the first regulated Canadian dollar stablecoin, under a custodial services agreement.

The company anticipates deploying at least an additional US$1 billion into its U.S. Structured Receivables Program during the 2026 fiscal year.