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Royal Bank of Canada to redeem NVCC Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BD
By AP News - Apr 15, 2025, 11:31 AM ET
Last Updated - Apr 15, 2025, 11:31 AM EDT
TORONTO, April 15, 2025 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced its intention to redeem all of its issued and outstanding Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series BD (Series BD shares) (TSX: RY.PR.J) on May 24, 2025, for cash at a redemption price of $25.00 per share to be paid on May 26, 2025.
There are 24,000,000 Series BD shares outstanding, representing $600 million of capital. The redemptions will be financed out of the general corporate funds of Royal Bank of Canada.
The final quarterly dividend of $0.20 for each of the Series BD shares will be paid separately from the redemption price for each of the Series BD Shares and in the usual manner on May 23, 2025 to shareholders of record at the close of business on April 24, 2025. After such dividend payments, the holders of Series BD shares will cease to be entitled to dividends.
For further information, please contact:
Investor Contact:
Asim Imran, Investor Relations, asim.imran@rbc.com, 416-955-7804
Media contact:
Gillian McArdle, Financial Communications, gillian.mcardle@rbccm.com, 416-842-4231
SOURCE Royal Bank of Canada
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