The Bank of Nova Scotia has announced:
that it intends to exercise its right to redeem all outstanding Non-cumulative Preferred Shares Series 14 of Scotiabank (the “Series 14 Shares”) on April 27, 2016, at a price equal to $25.00 per share, together with all declared and unpaid dividends. Formal notice will be issued to shareholders in accordance with the share conditions.
The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the general funds of Scotiabank.
On February 29, 2016, the Board of Directors of Scotiabank approved a quarterly dividend of $0.28125 per Series 14 Share. This will be the final dividend on the Series 14 Shares and will be paid in the usual manner on April 27, 2016, to shareholders of record at the close of business on April 5, 2016, as previously announced. After April 27, 2016, the Series 14 Shares will cease to be entitled to dividends.
BNS.PR.L is a Straight Perpetual, 4.50%, that commenced trading 2007-1-24 after being announced 2007-1-8. It has been tracked by HIMIPref™ throughout its existence; since the announcement of the NVCC Rules it has been assigned to the DeemedRetractibles subindex.
This entry was posted on Monday, March 28th, 2016 at 9:49 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BNS.PR.L To Be Redeemed
The Bank of Nova Scotia has announced:
BNS.PR.L is a Straight Perpetual, 4.50%, that commenced trading 2007-1-24 after being announced 2007-1-8. It has been tracked by HIMIPref™ throughout its existence; since the announcement of the NVCC Rules it has been assigned to the DeemedRetractibles subindex.
This entry was posted on Monday, March 28th, 2016 at 9:49 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.