TORONTO, March 2, 2015 /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 29 (TSX: CM.PR.G), for cash. The redemption will occur on April 30, 2015. The redemption price is $25.00 per Series 29 share.
The $0.337500 quarterly dividend announced on February 26, 2015 will be the final dividend on the Series 29 shares and will be paid on April 28, 2015, covering the period to April 30, 2015, to shareholders of record on March 27, 2015.
Holders of the Series 29 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.
CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Wholesale Banking - CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.
SOURCE CIBC - Investor Relations
For further information:
Investor & Financial Communications
Erica Belling 416-594-7251 [email protected]