Cenovus Energy Inc. has announced:
it will exercise its right to redeem the Company’s 3.935% Series 7 Preferred Shares (the “Series 7 Preferred Shares”) on June 30, 2025 (the “Redemption”). All 6 million Series 7 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $150 million, less required withholdings, if any, funded primarily from cash on hand.
As previously announced, the Company’s Board of Directors has declared a quarterly dividend of $0.24594 per Series 7 Preferred Share payable on June 30, 2025, to shareholders of record as of June 13, 2025. This will be the final dividend paid on the Series 7 Preferred Shares.
Inquiries from registered holders of Series 7 Preferred Shares should be directed to Cenovus’s Registrar and Transfer Agent, Computershare Investor Services Inc. at 1-866-332-8898 or (514) 982-8717 outside North America. Beneficial holders, who are not directly registered holders of Series 7 Preferred Shares, should contact the financial institution, broker, or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds.
CVE.PR.G was issued as HSE.PR.G a FixedReset, 4.60%+352, that commenced trading 2015-6-17 after being announced 2015-6-9. The issue reset to 3.935% effective 2020-6-30. There was no conversion. The ticker changed to CVE.PR.G in January, 2021. It is tracked by HIMIPref™ and is assigned to the FixedReset subindex.