Bank Of Montreal (TSE:BMO) has released an update.
Bank of Montreal is set to redeem all its Series 27 Preferred Shares for $500 million on May 25, 2024, with approval from financial regulators. Shareholders will receive a redemption price of $25.00 per share and a final quarterly dividend of $0.24075 per share on May 27, 2024. This move comes as part of the bank’s efforts to optimize its capital structure.
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