BMO.PR.I to be Redeemed

BMO has announced:

that on November 25, 2008, it will redeem all of its Non-Cumulative Class B Preferred Shares Series 6. The redemption price, as provided for in the terms of the issue, is $25.00 per share.

Separately from the redemption price, the final quarterly dividend of $0.296875 per share for the Series 6 shares will be paid in the usual manner on November 25, 2008 to shareholders of record on October 31, 2008.

Formal notice will be issued to shareholders in accordance with the share conditions. The redemption of the Series 6 shares is part of the Bank’s ongoing management of its Tier 1 capital.

BMO.PR.I was added to the TXPR index in July 2007. The issue was discussed at length in November 2006. It is tracked by HIMIPref™ and (volume permitting, which is almost certain) will continue to be included in the Operating Retractible index until redemption.

One Response to “BMO.PR.I to be Redeemed”

  1. […] TD crossed 72,700 at 25.29; Nesbitt crossed 13,500 at the same price. Called for redemption. […]

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