PrefBlog

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!

This entry was posted on Friday, April 14th, 2023 at 10:19 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.