Scotiabank to redeem all series 30, 31 preferred shares on April 26

By Sarah Lizee

Olympia, Wash., March 19 – Bank of Nova Scotia intends to redeem all of its outstanding non-cumulative five-year rate reset preferred shares series 30 and non-cumulative floating-rate preferred shares series 31 on April 26, according to a press release.

The preferreds will be redeemed at a price equal to $25.00 per share together with all declared dividends to the redemption date.

The redemption will be financed out of the general funds of Scotiabank.

On Feb. 25, the board of directors of Scotiabank declared quarterly dividends of $0.113750 per series 30 share and $0.166480 per series 31 share. These will be the final dividends and will be paid on the date of redemption to shareholders of record at the close of business on April 7.

Scotiabank is a Toronto-based financial services company.

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