Canadian Bank of Commerce (TSE:CM) has released an update.
The Canadian Bank of Commerce (CIBC) has announced it will redeem all outstanding Non-cumulative Rate Reset Class A Preferred Shares Series 51 for cash on July 31, 2024, at $25.00 per share. Shareholders will receive the final quarterly dividend of $0.321875 on July 29, 2024. CIBC advises shareholders to consult their financial institution or broker to arrange receipt of their redemption proceeds.
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