Canadian Western Bank to redeem C$140 million series 7 preferreds

By Wendy Van Sickle

Columbus, Ohio, June 1 – Canadian Western Bank plans to redeem all 5.6 million outstanding of its non-cumulative five-year reset first preferred shares, series 7, for cash on July 31, according to a press release.

The shares will be redeemed at C$25.00 apiece for a total of C$140 million.

The regular quarterly dividend will be paid in the usual manner on the redemption date.

The bank and financial services company is based in Edmonton, Alta.

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