Canadian Utilities calls three series of preferreds for redemption

By Angela McDaniels

Tacoma, Wash., Oct. 25 - Canadian Utilities Ltd. will redeem all of its outstanding series O, T and U perpetual cumulative second preferred shares on Dec. 2, according to a company news release.

The redemption price is C$25 per preferred plus accrued dividends. Each series has a 4.35% dividend rate.

The C$100 million total cost of the redemption will be funded from cash.

There are 1.6 million series O preferreds, 1.6 million series T preferreds and 800,000 series U preferreds outstanding.

Calgary, Alta.-based Canadian Utilities operates in the utilities, energy and technologies sectors.

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