National Bank of Canada to Redeem Preferred Shares Series 15
MONTREAL, Dec. 6, 2012 /CNW Telbec/ - National Bank of Canada (the "Bank") today announced its intention to redeem on January 15, 2013 all of its Non-cumulative Fixed Rate First Preferred Shares Series 15 (the "Preferred Shares Series 15"). The redemption price, as provided for in shares conditions, is $25.00 per share, together with declared and unpaid dividends. As the normal quarterly dividend would have been due on February 15, 2013, the Bank has declared a dividend for the period from November 15, 2012 to January 15, 2013 of $0.24442 per Preferred Share Series 15; as a result, holders will receive upon redemption an amount of $25.24442 per share.
Formal notice will be issued to shareholders in accordance with the share conditions. The redemption of the Preferred Share Series 15 is subject to the approval of the Office of the Superintendent of Financial Institutions and is part of the Bank's ongoing management of its regulatory capital.
Caution Regarding Forward-Looking Statements This press release includes certain forward-looking statements. These forward-looking statements include the Bank's intentions regarding the redemption of the Preferred Shares Series 15. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank, including the obtaining of regulatory approval required to complete the proposed redemption. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.
About National Bank of Canada With $178 billion in assets as at October 31, 2012, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading integrated financial groups, and was named among the five strongest banks in the world by Bloomberg Markets. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
(The telephone numbers provided below are for the exclusive use of journalists, other media representatives and shareholders.):
Claude Breton Senior Director, Public Affairs National Bank Tel.: 514-394-8644
Hélène Baril Senior Director, Investor Relations National Bank Tel.: 514-394-0296
SOURCE: National Bank of Canada
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CO: National Bank of Canada ST: Quebec NI: FIN 2523
-0- Dec/06/2012 12:20 GMT