CGI.PR.D To Be Redeemed

Morgan Meighen & Associates has announced:

Canadian General Investments, Limited (“CGI”) announced today that it has provided notice to holders of its $75,000,000 3.75% Cumulative Redeemable Class A Preference Shares, Series 4 (the “Series 4 Shares”) that in accordance with the terms of the Series 4 Shares it will redeem all of the issued and outstanding Series 4 Shares on June 12, 2023 (the “Redemption Date”), for a price of $25.00 per Series 4 Share plus all accrued and unpaid dividends (from and including the last scheduled dividend payment date, March 15, 2023, to, but excluding, the Redemption Date, and being in the amount of $0.22860 per share).

CGI.PR.D is a SplitShare, 10-Year Retractible, 3.75%, that commenced trading 2013-5-30 after being announced 2013-4-29. The issue has been tracked by HIMIPref™ and despite its excellent credit quality, has been relegated to the Scraps -SplitShares subindex on volume concerns.

Thanks to Assiduous Reader gsp for bringing this to my attention!

One Response to “CGI.PR.D To Be Redeemed”

  1. earlyriser says:

    I wonder if there will be a CGI.PR.E and if so, what the yield will be.

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