The Toronto Stock Exchange reports that Bank of Nova Scotia's non-cumulative five-year rate reset preferred shares, Series 40 (non-viability contingent capital (NVCC)) (symbol BNS.PR.I), will be delisted at the close on Jan. 29, 2024. According to the TSX, Scotiabank will redeem the Series 40 shares for $25 per share.

The TSX notes that the final dividend of 30.3125 cents per Series 40 share will be paid in the usual manner on Jan. 29, 2024, to holders of record on Jan. 3, 2024. The dividend will be paid separately from the redemption price. As the preferred shares are held through the book entry system of CDS and no individual certificates are issued, the holders of the Series 40 shares need not take any action with respect to the redemption.

For more information, see Scotiabank's news release dated Dec. 8, 2023.