TORONTO, Dec. 20, 2011 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all of its issued and outstanding Non-cumulative Class A Preferred Shares Series 31 for cash. The redemptions will occur on January 31, 2012. The redemption price is $26.00 per Series 31 share.
The $0.293750 per share quarterly dividend declared on November 30, 2011 will be the final dividend on the Series 31 shares and will be paid on January 27, 2012 to shareholders of record on December 28, 2011, as previously announced.
Holders of the Series 31 shares should contact the financial institution, broker or other intermediary through which they hold the shares to confirm how they will receive their redemption proceeds.
Jason Patchett, CIBC Investor Relations, 416-980-8691, Anu Shrivats, CIBC Investor Relations, 416-980-2556, or Mary Lou Frazer, CIBC Communications and Public Affairs, 416-980-4111