Industrial Alliance Insurance calls C$25-par series I preferred shares

By Marisa Wong

Los Angeles, Feb. 28 – Industrial Alliance Insurance and Financial Services Inc. (iA Insurance) announced it will redeem its non-cumulative five-year rate reset class A preferred shares, series I, on March 31.

The company will redeem the preferreds at a redemption price of C$25 less any taxes required to be withheld or deducted.

There are currently 6 million series I preferred shares outstanding.

Separately from the redemption price, the final quarterly dividend of C$0.3000 per series I preferred share will be paid in the usual manner on March 31 to shareholders of record on March 24.

iA Financial Group is a Canadian insurance company based in Quebec City.

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