The Bank of Nova Scotia has announced (on 2021-6-17):
its intention to redeem all outstanding Non-cumulative 5-Year Rate Reset Preferred Shares Series 36 (Non-Viability Contingent Capital (NVCC)) (“Series 36 Shares”) of Scotiabank on July 26, 2021 at a price equal to $25.00 per share together with declared and unpaid dividends to the Redemption Date (the “Redemption Price”). Formal notice will be issued to the 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. This redemption is part of the Bank’s ongoing management of its Tier 1 capital.
On June 1, 2021, the Board of Directors of Scotiabank declared quarterly dividends of $0.343750 per Series 36 Share. This will be the final dividend on the Series 36 Shares and will be paid on July 26, 2021, to shareholders of record at the close of business on July 6, 2021, as previously announced. Subsequent to this final dividend payment, the Series 36 Shares will cease to be entitled to dividends.
BNS.PR.G was a FixedReset, 5.50%+472, that commenced trading 2016-3-14 after being announced 2016-3-3. It was tracked by HIMIPref™ and is assigned to the FixedReset-Premium subindex.
This entry was posted on Sunday, August 8th, 2021 at 2:23 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.G Redeemed
The Bank of Nova Scotia has announced (on 2021-6-17):
BNS.PR.G was a FixedReset, 5.50%+472, that commenced trading 2016-3-14 after being announced 2016-3-3. It was tracked by HIMIPref™ and is assigned to the FixedReset-Premium subindex.
This entry was posted on Sunday, August 8th, 2021 at 2:23 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.