Bank of Montreal intends to redeem its series 25 and series 26 preferreds

Chicago, July 16 – Bank of Montreal announced that it intends to redeem all of its 9,425,607 outstanding non-cumulative five-year rate reset class B preferred shares, series 25 for an aggregate total of approximately C$236 million and all of its 2,174,393 outstanding non-cumulative floating-rate class B preferred shares, series 26 for an aggregate total of approximately C$54 million on Aug. 25, 2021, according to a notice.

Both series are redeemable at par. The final quarterly dividend of C$0.112813 for the series 25 shares and the final dividend of C$0.078704 for the series 26 shares will also be paid to shareholders of record on Aug. 3.

The issuer is a Montreal-based bank.

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