{"id":44889,"date":"2023-02-28T20:26:02","date_gmt":"2023-03-01T01:26:02","guid":{"rendered":"https:\/\/prefblog.com\/?p=44889"},"modified":"2023-02-28T20:26:02","modified_gmt":"2023-03-01T01:26:02","slug":"iaf-pr-i-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44889","title":{"rendered":"IAF.PR.I To Be Redeemed"},"content":{"rendered":"

Industrial Alliance Insurance and Financial Services Inc. has announced<\/a>:<\/p>\n

that it has sent today to all shareholders of its Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series I (the \u201cSeries I Preferred Shares\u201d) a formal notice and instructions for the redemption of the Series I Preferred Shares outstanding as of today. Upon the Series I Redemption scheduled for March 31, 2023, iA Insurance will pay to the holders of the Series I Preferred Shares the redemption price of $25 less any taxes required to be withheld or deducted. There are 6,000,000 Series I Preferred Shares outstanding as of today.<\/p>\n

Separately from the redemption price, the final quarterly dividend of $0.3000 per Series I Preferred Share will be paid in the usual manner on March 31, 2023 to shareholders of record on March 24, 2023<\/s>. After the Series I Preferred Shares are redeemed, holders of Series I Preferred Shares will cease to be entitled to distributions of dividends and will not be entitled to exercise any rights as holders other than to receive the redemption price and the final quarterly dividend described above.<\/p><\/blockquote>\n

UPDATE, 2023-3-1<\/b>: The company has issued a correction<\/a>; the record date for the dividend is February 24, 2023.<\/i> Thanks to Assiduous Reader xalier for his comment<\/a>.<\/p>\n

IAF.PR.I was issued as IAG.PR.I, a FixedReset, 4.80%+275, that commenced trading 2018-3-7<\/a> after being announced 2018-2-26<\/a>. The ticker changed in 2019<\/a>. It has been tracked by HIMIPref\u2122 and is assigned to the FixedResets (Discount) subindex.<\/p>\n

Thanks to Assiduous Readers DrSpinz<\/a>, niagara<\/a> and CanSiamCyp<\/a> for bringing this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"

Industrial Alliance Insurance and Financial Services Inc. has announced: that it has sent today to all shareholders of its Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series I (the \u201cSeries I Preferred Shares\u201d) a …<\/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-44889","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44889","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=44889"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44889\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}