TORONTO, May 30, 2013 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced its intention, subject to the approval of the Office of the Superintendent of Financial Institutions (OSFI), to redeem all of its issued and outstanding Non-Cumulative First Preferred Shares Series AH (the "Series AH shares") on July 2, 2013, for cash at a redemption price of $26.00 per share. This is comprised of the $25.00 per share original issue price plus a $1.00 per share redemption premium.
In addition, the Bank has also declared a 39-day dividend of $0.150925 per Series AH share covering the period from May 24, 2013 (the date of the last dividend payment), up to but excluding the redemption date of July 2, 2013. This results in a total amount of $26.150925 per share to be paid upon surrender of the Series AH shares.
There are 8,500,000 shares of Series AH outstanding, representing $212.5 million of capital. The redemption of the Series AH shares will be financed out of the general corporate funds of Royal Bank of Canada.
Please visit www.rbc.com/investorrelations/share-information to view tax Questions & Answers relating to this redemption.SOURCE RBC
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV