Northern Trust to redeem series C perpetual preferreds on Jan. 1

By Sarah Lizee

Olympia, Wash., Nov. 5 – Northern Trust Corp. announced the redemption on Jan. 1 of all 16,000 outstanding shares of its series C non-cumulative perpetual preferred stock, with $25,000 liquidation preference per share, and the corresponding redemption of all 16 million outstanding depositary shares, each representing a 1/1,000th interest in a share of series C preferred stock.

The depositary shares will be redeemed at a redemption price of $25.00 per depositary share.

The redemption price does not include the regular quarterly dividend of $0.365625 per depositary share that was previously declared and will be paid on the redemption date in the ordinary course to holders of record as of Dec. 15.

Northern Trust is a Chicago-based financial holding company.

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