CIBC provides CIBC Dividend Cardholders with cash dividend payments just in time for the holiday season
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.
For further information:
For further information: Doug Maybee, Director, External Communications and Media Relations, CIBC, Tel: (416) 980-7458, firstname.lastname@example.org