TORONTO, June 23, 2022 /CNW/ – CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all of its Non-Cumulative Class A Preferred Shares, Series 45 (TSX: CM.PR.R ) issued and outstanding against cash. The redemption will take place on July 29, 2022. The redemption price is $25.00 per Series 45 share.
The $0.275,000 quarterly dividend announced on May 26, 2022 will be the final dividend on the Series 45 Shares and will be paid on July 28, 2022covering the period up to July 312022, to shareholders of record on June 28, 2022.
Holders of Series 45 Shares should contact the financial institution, broker or other intermediary through which they hold the shares to confirm how they will receive redemption proceeds.
CIBC is a leading North American financial institution with 13 million personal, commercial, public sector and institutional banking customers. In Personal and Business Banking, Business Banking, and Wealth Management and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network and its locations across Canada with offices at United States and around the world. Current press releases and more information about CIBC are available at www.cibc.com/en/about-cibc/media-centre.html.
For further information: Alice Dunning, CIBC Investor Relations, 416-861-8870, [email protected]; Jason Patchett, CIBC Investor Relations, 416-980-8691, [email protected] ; Erica Belling, CIBC Investor and Financial Communications, 416-594-7251, [email protected]