Bank Of Montreal (TSE:BMO) has released an update.
The Bank of Montreal has announced its plan to redeem all outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 46, totaling $350 million, on May 25, 2024. Shareholders of record as of April 29, 2024, will receive the final quarterly dividend payment, in addition to the redemption price, by May 27, 2024. The redemption aligns with the Bank’s robust financial position, reflected in its $1.3 trillion in assets as of January 31, 2024.
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