TORONTO, May 26, 2011 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all of its issued and outstanding Non-cumulative Class A Preferred Shares Series 30 for cash. The redemptions will occur on July 31, 2011. The redemption price is $25.75 per Series 30 share.
The $0.30 per share quarterly dividend announced on May 26, 2011 will be the final dividend on the Series 30 shares and will be paid on July 28, 2011 to shareholders of record on June 28, 2011, as previously announced.
Holders of the Series 30 shares should contact the financial institution, broker or other intermediary through which they hold the shares to confirm how they will receive their redemption proceeds.
For further information: Jason Patchett, CIBC Investor Relations, 416-980-8691, Anu Shrivats, CIBC Investor Relations, 416-980-2556, or Mary Lou Frazer, CIBC Communications and Public Affairs, 416-980-4111