TORONTO, March 8, 2012 /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 32 for cash. The redemptions will occur on April 30, 2012. The redemption price is $26.00 per Series 32 share.
The $0.281250 per share quarterly dividend declared on March 8, 2012 will be the final dividend on the Series 32 shares and will be paid on April 27, 2012 to shareholders of record on March 28, 2012.
Holders of the Series 32 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.