TORONTO, Nov. 27 /CNW/ - In time for the busiest shopping season of the
year in Canada, CIBC (CM: TSX;NYSE) is paying out $75 million in annual cash
dividends earned by cardholders of CIBC Dividend and Dividend Platinum Visa
credit cards.
    "The amount we're paying back to our cardholders in dividends gives
Canadians a credit on their CIBC credit card just in time to make holiday
shopping a little easier," said Cheryl Longo, Senior Vice-President, Card
Products Division, CIBC Retail Markets. "The number of CIBC credit cardholders
receiving dividends continues to grow, a statement on the popularity of these
cards and the value our clients see in earning a timely credit on their
statement each December."
    In their December statements, cardholders will find a credit representing
the cash rebate rewards they have earned throughout the year, which are paid
out each December. Holders of the CIBC Dividend Platinum card earn up to two
per cent of their net annual card purchases. The no-annual-fee CIBC Dividend
card rebates cardholders up to one per cent of their net annual card
purchases.
    CIBC's credit card business is the market leader in Canada in both
balances and purchase volumes. CIBC cardholders benefit from using their cards
in a multitude of ways beyond annual dividend payments. In fact, on average,
more than 2,000 CIBC Aerogold Visa customers fly with their Aeroplan Miles
every day, and more than 1 million flights or merchandise rewards are claimed
each year by CIBC reward card customers.

    CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range of
products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.
You can find other news releases and information about CIBC in our Press
Centre on our corporate website at www.cibc.com.