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Industrial Alliance to redeem all series F preferreds for C$104 million
By Tali Rackner
Norfolk, Va., Feb. 24 – Industrial Alliance Insurance and Financial Services Inc. will redeem all of its series F noncumulative class A preferred shares on March 31, according to a press release.
The 4 million preferreds will be redeemed at C$26.00 per share less any tax required to be deducted. The total redemption price is C$104 million.
Separately from the redemption price, the final quarterly dividend of C$0.36875 per share will be paid on the redemption date to shareholders of record as of Feb. 27.
Industrial Alliance is a life and health insurance company based in Quebec City.
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