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.