National Bank of Canada to redeem 16 million outstanding preferreds

By Taylor Fox

New York, March 17 – National Bank of Canada plans to redeem all of its 16 million outstanding non-cumulative five-year rate rest first preferred shares, series 34, according to a news release.

The shares will be redeemed on May 15 at par of C$25.00 plus unpaid dividends.

The quarterly dividend of C$0.35 per share declared on Feb. 24 is the final dividend on the shares and is payable to shareholders of record on April 5.

The bank is based in Montreal.

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