TORONTO, March 24 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all 2,000 of the remaining outstanding Non-cumulative Class A Preferred Shares, Series 28 for cash. The redemptions will occur on April 28, 2011. The redemption price is $10.00 per Series 28 share.

The $0.02 per share quarterly dividend announced on February 24, 2011 will be the final dividend on the Series 28 shares and will be paid on April 28, 2011 to shareholders of record on March 28, 2011.

Holders of the Series 28 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.