TORONTO, Dec. 18,
2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today
announced its intention to redeem all of its issued and outstanding
Non-cumulative Rate Reset Class A Preferred Shares Series 41
(Non-viability contingent capital (NVCC)) (Series 41 shares) (TSX:
CM.PR.P), for cash. The redemption will occur on January 31, 2025. The redemption price is
$25.00 per Series 41 share.
The $0.244313 quarterly dividend
announced on December 5, 2024 will be
the final dividend on the Series 41 shares and will be paid on
January 28, 2025, covering the period
to January 31, 2025, to shareholders
of record on December 27, 2024.
Holders of the Series 41 shares should contact the financial
institution, broker or other intermediary through which they hold
the shares to confirm how they will receive their redemption
proceeds.
About CIBC
CIBC is a leading North American financial institution with 14
million personal banking, business, public sector and institutional
clients. Across Personal and Business Banking, Commercial Banking
and Wealth Management, and Capital Markets businesses, CIBC offers
a full range of advice, solutions and services through its leading
digital banking network, and locations across Canada, in the
United States and around the world. Ongoing news releases
and more information about CIBC can be found at
www.cibc.com/ca/media-centre.
SOURCE CIBC - Investor Relations