U.S. markets closed
  • S&P 500

    4,166.45
    -55.41 (-1.31%)
     
  • Dow 30

    33,290.08
    -533.37 (-1.58%)
     
  • Nasdaq

    14,030.38
    -130.97 (-0.92%)
     
  • Russell 2000

    2,237.75
    -49.71 (-2.17%)
     
  • Crude Oil

    71.50
    +0.46 (+0.65%)
     
  • Gold

    1,763.90
    -10.90 (-0.61%)
     
  • Silver

    25.84
    -0.01 (-0.04%)
     
  • EUR/USD

    1.1865
    -0.0045 (-0.38%)
     
  • 10-Yr Bond

    1.4500
    -0.0610 (-4.04%)
     
  • GBP/USD

    1.3809
    -0.0115 (-0.83%)
     
  • USD/JPY

    110.1500
    -0.0810 (-0.07%)
     
  • BTC-USD

    35,397.08
    -484.77 (-1.35%)
     
  • CMC Crypto 200

    888.52
    -51.42 (-5.47%)
     
  • FTSE 100

    7,017.47
    -135.96 (-1.90%)
     
  • Nikkei 225

    28,964.08
    -54.25 (-0.19%)
     

Royal Bank of Canada to redeem Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BK and Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BM

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

TORONTO, April 15, 2021 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced its intention to redeem all of its issued and outstanding Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BK (Series BK shares) (TSX: RY.PR.Q) on May 24, 2021, for cash at a redemption price of $25.00 per share to be paid on May 25, 2021. Royal Bank of Canada also announced its intention to redeem all of its issued and outstanding Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BM (Series BM shares) (TSX: RY.PR.R) on August 24, 2021, for cash at a redemption price of $25.00 per share to be paid on August 24, 2021.

There are 29,000,000 Series BK shares outstanding, representing $725 million of capital and 30,000,000 Series BM shares outstanding, representing $750 million of capital. The redemptions will be financed out of the general corporate funds of Royal Bank of Canada.

The final quarterly dividend of $0.34375 for each of the Series BK shares will be paid separately from the redemption price and in the usual manner on May 21, 2021 to shareholders of record at the close of business on April 22, 2021. After such dividend payment, the holders of Series BK shares will cease to be entitled to dividends. The final quarterly dividend for each of the Series BM shares, subject to declaration by the board of directors, will be paid separately from the redemption price for each of the Series BM Shares and in the usual manner on August 24, 2021 to shareholders of record at the close of business on July 26, 2021. After such dividend payments, the holders of Series BM shares will cease to be entitled to dividends.

SOURCE Royal Bank of Canada

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/April2021/15/c1865.html