Industrial Alliance to redeem all C$104 million of series E preferreds

By Tali Rackner

Norfolk, Va., Nov. 5 – Industrial Alliance Insurance and Financial Services Inc. said it will redeem all C$104 million of its series E noncumulative class A preferred shares on Dec. 31, according to a press release.

The 4 million preferreds will be redeemed at C$26.00 per share less any tax required to be deducted.

Separately from the redemption price, the final quarterly dividend of C$0.375 per share will be paid on the redemption date to shareholders of record on Nov. 28.

Industrial Alliance is a life and health insurance company based in Quebec City.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.