American International Group (AIG) has released an update.
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American International Group, Inc. will redeem all outstanding shares of its Series A 5.85% Non-Cumulative Perpetual Preferred Stock and corresponding Depositary Shares on March 15, 2024. The redemption price is set at $25,000 per share of Series A Preferred Stock, or $25.00 per Depositary Share, excluding undeclared dividends payable up to the redemption date. As of January 31, 2024, there were 20,000 shares of Series A Preferred Stock and 20,000,000 Depositary Shares outstanding.
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For a comprehensive understanding of the announcement, you can read the full document here.