5Banc Split announces partial redemption of preferreds

By Tanya Meyer

Chicago, Dec. 2 – 5Banc Split Inc. announced 236,260 preferred shares will be redeemed for cash on Dec. 15, according to a news release.

The redemption price is set at C$10.00 per share plus accrued dividends up to and including the redemption date.

The redemption is the result of shareholders exercising their special annual retraction privilege.

5Banc Split was established to generate income for class C preferreds while allowing class B capital shareholders to participate from a portfolio of common shares of Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Toronto-Dominion Bank.

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