The Bank of Nova Scotia announced (on March 10):
that it intends to exercise its right to redeem all outstanding Non-cumulative Preferred Shares Series 17 of Scotiabank (the “Series 17 Shares”) on April 26, 2017, 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 28, 2017, the Board of Directors of Scotiabank announced a quarterly dividend of $0.350000 per Series 17 Share. This will be the final dividend on the Series 17 Shares and will be paid in the usual manner on April 26, 2017, to shareholders of record at the close of business on April 4, 2017, as previously announced.
BNS.PR.O was a Straight Perpetual paying 5.60% which commenced trading 2008-1-31 after being announced 2008-1-17. It has been analyzed as a DeemedRetractible since OSFI’s announcement of the NVCC rules for banks.
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BNS.PR.O Redeemed
The Bank of Nova Scotia announced (on March 10):
BNS.PR.O was a Straight Perpetual paying 5.60% which commenced trading 2008-1-31 after being announced 2008-1-17. It has been analyzed as a DeemedRetractible since OSFI’s announcement of the NVCC rules for banks.
This entry was posted on Saturday, May 13th, 2017 at 2:34 am 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.