TORONTO, June 23,
2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today
announced its intention to redeem all of its issued and outstanding
Non-cumulative Class A Preferred Shares Series 45 (TSX: CM.PR.R)
for cash. The redemption will occur on July
29, 2022. The redemption price is $25.00 per Series 45 share.
The $0.275000 quarterly
dividend announced on May 26, 2022
will be the final dividend on the Series 45 shares and will be
paid on July 28, 2022, covering the
period to July 31, 2022, to
shareholders of record on June 28,
2022.
Holders of the Series 45 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 13
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 with offices in the United States and around the world.
Ongoing news releases and more information about CIBC can be found
at www.cibc.com/en/about-cibc/media-centre.html.
SOURCE CIBC