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National Bank of Canada Announces Dividend Rates for First Preferred Shares, Series 42 and 43 (NVCC)
National Bank of Canada Announces Dividend Rates for First Preferred Shares, Series 42 and 43 (NV...
About this update from National Bank Of Canada
[{"type":"text","content":"\n \n \n \n National Bank of Canada Announces Dividend Rates for First Preferred Shares, Series 42 and 43 (NVCC)\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Not for distribution to U.S. news wire services or for dissemination in\n \n the United States\n \n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n Oct. 17, 2023\n \n \n /CNW/ - Further to its announcement of\n \n September 20, 2023\n \n , National Bank of\n \n Canada\n \n (the \"Bank\") (TSX: NA) announced today the dividend rates applicable to the Non-Cumulative 5‑Year Rate Reset First Preferred Shares, Series 42 Non-Viability Contingent Capital (NVCC) (the \"Series 42 Shares\") and the Non-Cumulative Floating Rate First Preferred Shares, Series 43 (NVCC) (the \"Series 43 Shares\").\n \n \n Holders of Series 42 Shares, should any remain outstanding after\n \n November 15, 2023\n \n , will be entitled to receive fixed-rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of the Bank and subject to the provisions of the\n \n Bank Act\n \n (\n \n Canada\n \n ). The dividend rate for the five-year period commencing on\n \n November 16, 2023\n \n , and ending on\n \n November 15, 2028\n \n , will be 7.056%, being equal to the sum of the five-year Government of Canada Bond yield (4.286%) plus 2.77%, as determined in accordance with the terms of the Series 42 Shares.\n \n \n Holders of Series 43 Shares, should any be issued on\n \n November 15, 2023\n \n , will be entitled to receive floating rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of the Bank and subject to the provisions of the\n \n Bank Act\n \n (\n \n Canada\n \n ). The dividend rate for the three-month period commencing on\n \n November 16, 2023\n \n , and ending on\n \n February 15, 2024\n \n , will be 7.93%, being equal to the sum of the 90-day Government of Canada Treasury Bill yield (5.16%) plus 2.77%, calculated on the bas...