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Scotiabank to redeem non-cumulative preferred share series 36
By Wendy Van Sickle
Columbus, Ohio, June 17 – Bank of Nova Scotia intends to redeem all its outstanding non-cumulative five-year rate reset preferred shares, series 36, on July 26, according to a press release.
The shares will be redeemed at C$25.00 per share plus unpaid dividends.
On June 1, Scotiabank declared quarterly dividends of C$0.34375 per series 36 share. These dividends will be paid on July 26.
Scotiabank will pay for the redemption with its general funds. The bank says the redemption is part of its management of its tier 1 capital.
The bank is based in Toronto.
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