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Bank of Montreal
Symbol BMO
Shares Issued 647,470,963
Close 2021-07-16 C$ 125.11
Recent Sedar Documents

BMO to redeem Series 25, 26 rate reset preferreds

2021-07-16 17:18 ET - News Release

An anonymous director reports

BANK OF MONTREAL TO REDEEM NON-CUMULATIVE 5-YEAR RATE RESET CLASS B PREFERRED SHARES, SERIES 25 AND NON-CUMULATIVE FLOATING RATE CLASS B PREFERRED SHARES, SERIES 26

Bank of Montreal intends to redeem all of its 9,425,607 outstanding non-cumulative five-year rate reset Class B preferred shares, Series 25, for an aggregate total of approximately $236-million and all of its 2,174,393 outstanding non-cumulative floating rate Class B preferred shares, Series 26, for an aggregate total of approximately $54-million on Aug. 25, 2021. The redemption has been approved by the Office of the Superintendent of Financial Institutions.

The preferred shares Series 25 and the preferred shares Series 26 are redeemable at the bank's option on Aug. 25, 2021, at a redemption price of $25.00 per share. Payment of the redemption price will be made by the bank on Aug. 25, 2021.

Separately from the payment of the redemption price, the final quarterly dividend of 11.2813 cents per share for the preferred shares Series 25 and 7.8704 cents per share for the preferred shares Series 26 announced by the bank on May 26, 2021, will be paid in the usual manner on Aug. 25, 2021, to shareholders of record on Aug. 3, 2021.

Notice will be delivered to holders of the preferred shares Series 25 and the preferred shares Series 26 in accordance with the terms outlined in the preferred shares Series 25 and preferred shares Series 26 prospectus supplement.

About Bank of Montreal

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider -- the eighth-largest bank, by assets, in North America. With total assets of $950-billion as of April 30, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management, and investment banking products and services to more than 12 million customers and conducts business through three operating groups: personal and commercial banking, BMO Wealth Management, and BMO Capital Markets.

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