Thursday, December 1 2022

TORONTO, April 22, 2022 /CNW/ – Bank of Montreal (the “Bank”) (TSX: BMO) (NYSE: BMO) today announced that it intends to redeem all of its 20,000,000 non-dividend rate reset Class B preferred shares every five years. Cumulative, Series 40 (Non-Viability Contingency Capital (NVCC)) (the “Series 40 Preferred Shares”) for an aggregate total of $500 million on May 25, 2022. The buyout has been approved by the Office of the Superintendent of Financial Institutions.

The Series 40 Preferred Shares are redeemable at the Bank’s option on May 25, 2022 (the “Redemption Date”) at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on the redemption date.

Independently of the payment of the redemption price, the balance of the quarterly dividend of $0.28125 per share for the Series 40 Preferred Shares announced by the Bank on March 1, 2022 will be paid in the usual manner on May 25, 2022to shareholders of record on May 2, 2022.

Notice will be given to holders of Series 40 Preferred Shares in accordance with the terms thereof.

About BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion from January 31, 2022and a diverse and highly engaged team of employees, BMO offers a wide range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and operates through the through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

The Internet: Twitter: @BMO Media

SOURCE BMO Financial Group

For further information: For news media inquiries: Paul Gammal, Toronto, [email protected], (416) 867-3996; For investor relations inquiries: Bill Anderson, Toronto, [email protected](416) 867-7834


Free Small Business Mentoring: Fremont Chamber of Commerce


Tackling the Challenge of Weak Credit Growth in a Rising Rate Cycle - The New Indian Express

Check Also