TORONTO, May 30, 2013 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE)
today announced its intention, subject to the approval of the Office of
the Superintendent of Financial Institutions (OSFI), to redeem all of
its issued and outstanding Non-Cumulative First Preferred Shares Series
AH (the "Series AH shares") on July 2, 2013, for cash at a redemption
price of $26.00 per share. This is comprised of the $25.00 per share
original issue price plus a $1.00 per share redemption premium.
In addition, the Bank has also declared a 39-day dividend of $0.150925
per Series AH share covering the period from May 24, 2013 (the date of
the last dividend payment), up to but excluding the redemption date of
July 2, 2013. This results in a total amount of $26.150925 per share to
be paid upon surrender of the Series AH shares.
There are 8,500,000 shares of Series AH outstanding, representing $212.5
million of capital. The redemption of the Series AH shares will be
financed out of the general corporate funds of Royal Bank of Canada.
Please visit www.rbc.com/investorrelations/share-information to view tax Questions & Answers relating to this redemption.
For further information:
Shirley Boudreau, Shareholder Relations, 416 955-7806
Karen McCarthy, Investor Relations, 416 955-7809
Tanis Feasby, Corporate Communications, 416 955-5172