BMO Announces The Results Of A Conversion Privilege For Class B Preferred Shares, Series 44, With An Interest Rate Adjustment Every 5 Years And A Non-cumulative Dividend (emergency Capital In The Event Of Non-profitability)

Class in: Offers
Theme : Dividends/Discounts

MONTRAL, Nov. 16, 2023 /CNW/ – The Bank of Montreal (the Bank) (TSX: BMO) (NYSE: BMO) today announced that none of its 16 million shares of Class B, Series 44 preferred stock will be subject to a rate adjustment every 5 years subject to and non-cumulative dividend (Emergency Capital for Non-Viability) (the Series 44 Preferred Stock) will not be converted into Class B Preferred Stock, Series 45, Non-Cumulative Dividend with Variable Rate (Emergency Capital for Non-Viability) (the Series 45 Preferred Stock) of the Bank on December 25th November 2023.

During the conversion period from October 26, 2023 to November 10, 2023, 93,870 shares of Series 44 Preferred Stock were deposited for conversion into Series 45 Preferred Stock, which is less than the minimum number of 1,000,000 required for the conversion to be effective. as described in the Series 44 Preferred Stock prospectus supplement dated September 10, 2018. Accordingly, no Series 45 Preferred Stock will be tendered on November 25, 2023 and holders of the Series 44 Preferred Stock will retain their shares.

The Series 44 Preferred Shares are currently listed on the Toronto Stock Exchange under the symbol BMO.PR.E. As already announced on October 26, 2023, the dividend rate for the five-year period from November 25, 2023 to November 25, 2028 is 6.816 percent.

About BMO Financial Group

With total assets of $1.25 trillion as of July 31, 2023, BMO Financial Group is the eighth largest bank in North America by assets. BMO has been serving our customers for over 200 years and has a diverse team of highly dedicated employees serving 13 million customers with a broad range of products and services in personal and commercial banking, wealth management, global markets and merchant banking services Canada, the United States and select global markets. Driven by a single purpose: With the courage to make a difference in life and business, BMO is committed to creating positive change in the world and driving progress toward a prosperous economy, a sustainable future and a healthy society. more integrative.

Internet: www.bmo.com Twitter: @BMOMedia

SOURCE BMO Financial Group

These press releases might also interest you

23:22
	Please note that all times given are local times. San Francisco (United States of America) 10:05 am. The Prime Minister will hold a press conference. The Minister for Export Promotion, International Trade and…
22:48
	PostEra, a biotechnology company specializing in artificial intelligence for preclinical drug discovery, today announced a multi-target collaboration with Amgen, a leading biotechnology company. The…
20:56
	Prime Minister Justin Trudeau issued the following statement today to congratulate Pedro Séchez on his re-election as Prime Minister of Spain: On behalf of the Government of Canada, I congratulate Pedro Séchez on his re-election…
6:47 p.m
	The federal government will make an announcement on housing in Kingston. The media is invited to join Mark Gerretsen, Member of Parliament for Kingston and the Islands, on behalf of the Honorable Sean Fraser, Minister for Housing, Infrastructure and…
5:47 p.m
	Nuvei Corporation (Nuvei or the Company), the Canadian financial technology company, today announces that it will provide payment solutions for Nayax, a global platform to facilitate commercial payments and…
5:26 p.m
	The RightTime Group of Companies (Right Time), a leading provider of home services in Canada, today announced the acquisition of Breathe Clean Mini Split Heat Pump Cleaning (Breathe Clean or the “Company”), based in Halifax,…

Press release sent on November 16, 2023 5:01 p.m. and distributed by: