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CIBC to redeem all of two series of class A preferreds on Oct. 31
By Marisa Wong
Madison, Wis., Sept. 28 - Canadian Imperial Bank of Commerce said it will redeem all of its outstanding non-cumulative class A preferred shares, series 19 and series 23, for cash on Oct. 31.
The redemption price is C$25.45 per series 19 preferred and C$25.00 per series 23 preferred.
The final quarterly dividend of C$0.309375 per series 19 preferred and C$0.331250 per series 23 preferred for the period from Aug. 1 to Oct. 31 will be paid in the usual manner on Oct. 28 to holders of record on Sept. 28.
The chartered bank is based in Toronto.
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