SYS-CON MEDIA Authors: Kevin Benedict, Gilad Parann-Nissany, Michael Bushong, Eric Brown

News Feed Item

CIBC to Redeem Preferred Shares Series 35

TORONTO, March 4, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all of its issued and outstanding Non-cumulative Rate Reset Class A Preferred Shares Series 35 for cash.  The redemptions will occur on April 30, 2014.  The redemption price is $25.00 per Series 35 share.

The $0.406250 per share quarterly dividend announced on February 27, 2014 will be the final dividend on the Series 35 shares and will be paid on April 28, 2014 to shareholders of record on March 28, 2014.

Holders of the Series 35 shares should contact the financial institution, broker or other intermediary through which they hold the shares to confirm how they will receive their redemption proceeds.

SOURCE CIBC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.