TORONTO, Jan. 18, 2022 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced
its intention to redeem all of its issued and outstanding
Non-Cumulative First Preferred Shares, Series BJ (Series BJ shares)
(TSX: RY.PR.P) on February 24, 2022,
for cash at a redemption price of $25.75 per share to be paid on February 24, 2022.
There are 6,000,000 Series BJ shares outstanding, representing
$150 million of capital. The
redemptions will be financed out of the general corporate funds of
Royal Bank of Canada.
The final quarterly dividend of $0.328125 for each of the Series BJ shares,
subject to declaration by the board of directors, will be paid
separately from the redemption price for each of the Series BJ
Shares and in the usual manner on February
24, 2022 to shareholders of record at the close of business
on January 26, 2022. After such
dividend payments, the holders of Series BJ shares will cease to be
entitled to dividends.
SOURCE Royal Bank of Canada