{"id":997,"date":"2007-07-24T18:54:09","date_gmt":"2007-07-24T22:54:09","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=997"},"modified":"2007-07-24T18:54:09","modified_gmt":"2007-07-24T22:54:09","slug":"bmoprg-called-for-redemption","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=997","title":{"rendered":"BMO.PR.G Called for Redemption"},"content":{"rendered":"<p>The Bank of Montreal <a href=\"http:\/\/www2.bmo.com\/news\/article\/0,1083,contentCode-6703_divId-3_langId-1_navCode-212,00.html\">has announced<\/a>:<\/p>\n<blockquote><p>on August 27, 2007, it will redeem all of its Non-Cumulative Class B Preferred Shares Series 4. The redemption price, as provided for in the terms of the issue, is $25.00 per share, together with declared and unpaid dividends to the date of redemption. As the normal quarterly dividend is due on August 25, 2007, the Bank has declared a 2-day stub dividend of $0.006575 per Series 4 share. This results in a total redemption price of $25.006575 per Series 4 share.<\/p><\/blockquote>\n<p>This redemption comes at the first opportunity the bank has had to call the issue at par. It was retractible for shares commencing 2008-5-25 and paid $1.20 on $25.00 par value &#8230; BMO doesn&#8217;t need to pay 4.8% Dividends for its funding.<\/p>\n<p>This issue has been included in the HIMIPref\u2122 &#8220;Operating Retractible&#8221; index. It was <a href=\"http:\/\/www.prefblog.com\/?p=219\">highlighted 2006-10-25<\/a> for having a negative Yield-to-Worst<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Montreal has announced: on August 27, 2007, it will redeem all of its Non-Cumulative Class B Preferred Shares Series 4. The redemption price, as provided for in the terms of the issue, &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-997","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/997","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=997"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/997\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}