{"id":46992,"date":"2024-06-27T20:46:49","date_gmt":"2024-06-28T01:46:49","guid":{"rendered":"https:\/\/prefblog.com\/?p=46992"},"modified":"2024-06-27T20:46:49","modified_gmt":"2024-06-28T01:46:49","slug":"iaf-pr-b-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46992","title":{"rendered":"IAF.PR.B To Be Redeemed"},"content":{"rendered":"<p>Industrial Alliance Insurance and Financial Services Inc. <a href=\"https:\/\/ia.ca\/newsroom\/2024\/june\/iafg-announces-the-issuance-of-a-redemption-notice-to-holders-of-non-cumulative-class-a-preferred-shares-series-b\">has announced<\/a>:<\/p>\n<blockquote><p>that it has sent today to all shareholders of its Non-Cumulative Class A Preferred Shares Series B (TSX: IAF.PR.B) (the \u201cSeries B Preferred Shares\u201d) a formal notice and instructions for the redemption of the Series B Preferred Shares outstanding as of today (the \u201cSeries B Redemption\u201d). Upon the Series B Redemption scheduled for July 29, 2024, iA Insurance will pay to the holders of the Series B Preferred Shares the redemption price consisting of $25 plus an amount equal to the cash dividend in respect of the third quarter, pro rated to the redemption date. There are 5,000,000 Series B Preferred Shares outstanding as of today.<\/p>\n<p>Separately from the redemption price, the regular second quarter dividend of $0.2875 per Series B Preferred Share will be paid in the usual manner on July 2, 2024 to preferred shareholders of record on May 24, 2024. After the Series B Preferred Shares are redeemed, holders of Series B 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.<\/p><\/blockquote>\n<p>This issue was originally issued as IAG.PR.A as a 4.60% Straight Perpetual and commenced trading 2006-2-4, before PrefBlog was invented. The ticker <a href=\"https:\/\/prefblog.com\/?p=37890\">changed to IAF.PR.B<\/a> on 2019-1-4. This redemption was foreshadowed by the <a href=\"https:\/\/prefblog.com\/?p=46934\">announcement of an LRCN issue<\/a> by the holding company.<\/p>\n<p>Thanks to Assiduous Reader <i>newbiepref<\/i> for <a href=\"https:\/\/prefblog.com\/?p=46984#comment-215527\">bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Industrial Alliance Insurance and Financial Services Inc. has announced: that it has sent today to all shareholders of its Non-Cumulative Class A Preferred Shares Series B (TSX: IAF.PR.B) (the \u201cSeries B Preferred Shares\u201d) a formal &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-46992","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46992","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=46992"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46992\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}