{"id":44051,"date":"2022-08-21T19:47:47","date_gmt":"2022-08-22T00:47:47","guid":{"rendered":"https:\/\/prefblog.com\/?p=44051"},"modified":"2022-08-21T19:47:47","modified_gmt":"2022-08-22T00:47:47","slug":"cpx-pr-i-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44051","title":{"rendered":"CPX.PR.I To Be Redeemed"},"content":{"rendered":"<p>Capital Power Corporation <a href=\"https:\/\/www.capitalpower.com\/media\/media_releases\/capital-power-provides-redemption-notice-of-preferred-shares-series-9\/\">has announced<\/a>:<\/p>\n<blockquote><p>that it intends to redeem all of its 6,000,000 issued and outstanding 5.75% Cumulative Minimum Rate Reset Preference Shares, Series 9 (the \u201cSeries 9 Shares\u201d) (TSX: CPX.PR.I) on September 30, 2022 (the \u201cRedemption Date\u201d) at a price of $25.00 per share (the \u201cRedemption Price\u201d) for an aggregate total of $150 million, less any tax required to be deducted and withheld by the Company.<\/p>\n<p>As previously announced, the Company\u2019s Board of Directors has declared a quarterly dividend of $0.359375 per Series 9 Share payable on September 30, 2022 (the \u201cQ3 2022 Quarterly Dividend\u201d). This will be the final quarterly dividend on the Series 9 Shares and, as the Redemption Date is also a dividend payment date, the Redemption Price will not include the Q3 2022 Quarterly Dividend. Instead, the Q3 2022 Quarterly Dividend will be paid on the Redemption Date separately to shareholders of record as of September 19, 2022.<\/p>\n<p>The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series 9 Shares in accordance with their terms. Non-registered holders of Series 9 Shares should contact their broker or other intermediary for information regarding the redemption process for the Series 9 Shares in which they hold a beneficial interest.<\/p><\/blockquote>\n<p>CPX.PR.I is a FixedReset, 5.75%+412M575, that <a href=\"https:\/\/prefblog.com\/?p=35262\">commenced trading 2017-8-9<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=35196\">announced 2017-7-27<\/a>. The company <a href=\"https:\/\/prefblog.com\/?p=44042\">announced on August 18<\/a> that they were considering redemption. The issue has been tracked by HIMIPref\u2122 but relegated to the Scraps subindex on credit concerns.<\/p>\n<p>Thanks to Assiduous Reader <i>CanSiamCyp<\/i> for ensuring I was aware of this development!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capital Power Corporation has announced: that it intends to redeem all of its 6,000,000 issued and outstanding 5.75% Cumulative Minimum Rate Reset Preference Shares, Series 9 (the \u201cSeries 9 Shares\u201d) (TSX: CPX.PR.I) on September 30, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-44051","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44051"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44051\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}