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Canaccord Genuity Group Inc. Announces Dividend Rates on Cumulative 5-Year Rate Reset First Preferred Shares, Series A and Cumulative Floating Rate First Preferred Shares, Series B
Canaccord Genuity Group Inc. Announces Dividend Rates on Cumulative 5-Year Rate Reset Firs...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Dividend Rates on Cumulative 5-Year Rate Reset First Preferred Shares, Series A and Cumulative Floating Rate First Preferred Shares, Series B\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanaccord Genuity Group Inc. Announces Dividend Rates on Cumulative 5-Year Rate Reset First Preferred Shares, Series A and Cumulative Floating Rate First Preferred Shares, Series B\nCanada NewsWire\nTORONTO, Sept. 1, 2016\n\n\n\n\n\n\nTORONTO, Sept. 1, 2016 /CNW/ - Canaccord Genuity Group Inc. (the \"Company\") (TSX:CF, CF.PR.A, CF.PR.C) announced today the applicable dividend rates for its Cumulative 5-Year Rate Reset First Preferred Shares, Series A (the \"Series A Preferred Shares\") and its Cumulative Floating Rate First Preferred Shares, Series B (the \"Series B Preferred Shares\"), further to its press release dated August 12, 2016 announcing that it does not intend to exercise its right to redeem all or any part of the currently outstanding Series A Preferred Shares and, as a result of which, subject to certain conditions, the holders of the Series A Preferred Shares have the right to convert all or any part of their Series A Preferred Shares into Series B Preferred Shares on a one-for-one basis.\n\nWith respect to any Series A Preferred Shares that remain outstanding after September 30, 2016, holders thereof will be entitled to receive quarterly fixed, cumulative, preferential cash dividends, if, as and when declared by the Board of Directors of the Company, subject to the provisions of the Business Corporations Act (British Columbia). The dividend rate for the five-year period commencing on October 1, 2016 and ending on and including September 30, 2021 will be 3.885% per annum, being equal to the sum of the five year Government of Canada bond yield determined as of today, plus 3.21%, in accordance with the terms of the Series A Preferred Shares.\n\nWith respect to any Series B Preferred Shares that may be issued on September 30, 2016, holders thereof will be entitled to receive quarterly floating rate, cumulative, preferenti...