TORONTO, Dec. 13, 2013 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE)
today announced its intention to redeem all of its issued and
outstanding Non-Cumulative 5-Year Rate Reset First Preferred Shares
Series AN (the "Series AN shares"), AP (the "Series AP shares") and AR
(the "Series AR shares") on February 24, 2014, for cash at a redemption
price of $25.00 per share.
There are 9,000,000 Series AN shares outstanding, representing $225
million of capital; 11,000,000 Series AP shares outstanding,
representing $275 million of capital; and 14,000,000 Series AR shares
outstanding, representing $350 million of capital. The redemption of
the Series AN, AP and AR shares will be financed out of the general
corporate funds of Royal Bank of Canada.
Separately from the redemption price, the final quarterly dividend of
$0.390625, for each of the Series AN, AP and AR shares will be paid in
the usual manner on February 24, 2014 to shareholders of record on
January 27, 2014.
For further information:
Shirley Boudreau, Shareholder Relations, 416 955-7806
Karen McCarthy, Investor Relations, 416 955-7809
Tanis Feasby, Communications, 416 955-5172