By Adriano Marchese
Royal Bank of Canada said Tuesday that it intends to redeem all 6 million of its issued and outstanding series BJ preferred shares worth around 150 million Canadian dollars, roughly US$119.9 million.
The Canadian bank said it will redeem all of the non-cumulative first preferred shares at a cash price of C$25.75 apiece.
The final quarterly dividend will be of C$0.328125 per share, and will be paid separately from the redemption price.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-18-22 0858ET