Power Financial to redeem C$200 million series I preferreds

By Mary-Katherine Stinson

Lexington, Ky., Oct. 18 – Power Financial Corp. says it will redeem all its outstanding 6% non-cumulative first preferred shares, series I totaling C$200 million on Nov. 22, according to a press release.

There are 8 million outstanding shares.

The redemption price will be C$25 per share plus any declared and unpaid dividends net any tax required to be withheld by the corporation.

Power Financial is a Montreal-based diversified financial services management and holding company.

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