Well – I said it was pretty certain and every now and then I get something right! CIBC has announced:
its intention to redeem all of its issued and outstanding Non-cumulative Class A Preferred Shares Series 25 for cash. The redemptions will occur on July 31, 2007. The redemption price is $26.00 per Series 25 share.
The $0.375 per share quarterly dividend declared on May 31, 2007 will be the final dividend on the Series 25 shares and will be paid on July 27, 2007 to shareholders of record on June 28, 2007, as previously announced.
CM.PR.C closed yesterday at 26.10-24.
[…] Back to prefs … CM.PR.C has been redeemed and been removed from the “PerpetualPremium” index. To my shame, I confess that the HIMIPref™ Indices have not been rebalanced for July month-end and I will have to catch up at another time – hopefully tomorrow. The market had a good day – as suggested by the “Major Price Changes”, but beyond that, I’m afraid you’ll have to wait. […]
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