CM.PR.H Called For Redemption

The Canadian Imperial Bank of Commerce has 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.

Update, 2011-7-22: Removed from TXPR.

11 Responses to “CM.PR.H Called For Redemption”

  1. like_to_retire says:

    No mention of the Paid Up Capital figure for this call.

    At what point do they usually disclose this amount?

  2. […] winning 29bp. A good crop of winners is in the Performance Highlights table, led by CM.PR.H, which is being redeemed and followed by others that are not seeking NVCC status. Volume was good, and again CM issues were […]

  3. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2011-06-26 Maturity Price : 25.75 Evaluated at bid price : 25.90 Bid-YTW : 1.76 % […]

  4. jiHymas says:

    This was issued at par and there have been no return of capital distributions on it since – therefore, the Paid Up Capital is $25.00. Note that the $0.75 premium to par is a Deemed Dividend, if received from the company; but will (effectively) be part of your capital gain/loss if sold on the market.

    It is relatively rare for issues to have paid up capital different from their par value – the only exceptions I can think of are a few GWO issues that were issued in exchange for common stock of acquired companies.

  5. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2011-07-07 Maturity Price : 25.75 Evaluated at bid price : 25.93 Bid-YTW : 2.05 % […]

  6. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2011-07-08 Maturity Price : 25.75 Evaluated at bid price : 25.93 Bid-YTW : 2.20 % […]

  7. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2011-07-09 Maturity Price : 25.75 Evaluated at bid price : 25.95 Bid-YTW : 1.41 % […]

  8. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2011-07-24 Maturity Price : 25.75 Evaluated at bid price : 25.71 Bid-YTW : 0.81 % […]

  9. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2012-04-30 Maturity Price : 25.50 Evaluated at bid price : 25.71 Bid-YTW : 3.32 % […]

  10. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2011-08-14 Maturity Price : 25.75 Evaluated at bid price : 25.73 Bid-YTW : 3.14 % […]

  11. […] Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2012-04-30 Maturity Price : 25.50 Evaluated at bid price : 25.73 Bid-YTW : 3.34 % […]

Leave a Reply

You must be logged in to post a comment.