Bank of Montreal to redeem all 600,000 non-cumulative preferreds

By Taylor Fox

New York, Oct. 15 – Bank of Montreal plans to redeem all of its 600,000 outstanding non-cumulative five-year rate reset class B preferred shares, series 36 for a total of C$600 million, according to a news release.

The notes will be redeemed Nov. 25 at par.

Separately from the payment of the redemption price, the final quarterly dividend of C$14.625 per share will be paid to shareholders of record on Nov. 2.

The issuer is a Montreal-based bank.

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