{"id":514216,"date":"2021-07-16T17:03:12","date_gmt":"2021-07-16T21:03:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/"},"modified":"2021-07-16T17:03:12","modified_gmt":"2021-07-16T21:03:12","slug":"bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/","title":{"rendered":"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">July 16, 2021<\/span> \/CNW\/ &#8211;\u00a0Bank of <span class=\"xn-location\">Montreal<\/span> (TSX: BMO) (NYSE: BMO) (the &#8220;Bank&#8221;) today announced its intention to redeem all of its 9,425,607 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 (&#8220;Preferred Shares Series 25&#8221;) for an aggregate total of approximately <span class=\"xn-money\">$236 million<\/span> and all of its 2,174,393 outstanding Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 (&#8220;Preferred Shares Series 26&#8221;) for an aggregate total of approximately <span class=\"xn-money\">$54 million<\/span> on <span class=\"xn-chron\">August 25, 2021<\/span>. The redemption has been approved by the Office of the Superintendent of Financial Institutions.<\/p>\n<p>The Preferred Shares Series 25 and the Preferred Shares Series 26 are redeemable at the Bank&#8217;s option on <span class=\"xn-chron\">August 25, 2021<\/span>, at a redemption price of <span class=\"xn-money\">$25.00<\/span> per share. Payment of the redemption price will be made by the Bank on <span class=\"xn-chron\">August 25, 2021<\/span>.<\/p>\n<p>Separately from the payment of the redemption price, the final quarterly dividend of <span class=\"xn-money\">$0.112813<\/span> per share for the Preferred Shares Series 25 and <span class=\"xn-money\">$0.078704<\/span> per share for the Preferred Shares Series 26 announced by the Bank on <span class=\"xn-chron\">May 26, 2021<\/span> will be paid in the usual manner on <span class=\"xn-chron\">August 25, 2021<\/span>, to shareholders of record on <span class=\"xn-chron\">August 3, 2021<\/span>.<\/p>\n<p>Notice will be delivered to holders of the Preferred Shares Series 25 and the Preferred Shares Series 26 in accordance with the terms outlined in the Preferred Shares Series 25 and Preferred Shares Series 26 prospectus supplement.<\/p>\n<p>\n        <b>About BMO Financial Group<\/b>\n      <\/p>\n<p>Serving customers for 200 years and counting, BMO is a highly diversified financial services provider &#8211; the 8<sup>th<\/sup> largest bank, by assets, in <span class=\"xn-location\">North America<\/span>. With total assets of <span class=\"xn-money\">$950 billion<\/span> as of <span class=\"xn-chron\">April 30, 2021<\/span>, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.<\/p>\n<p>\n        <b>Internet: <\/b><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3231120-1&amp;h=1461322066&amp;u=http%3A%2F%2Fwww.bmo.com%2F&amp;a=www.bmo.com\" rel=\"nofollow noopener\">www.bmo.com<\/a><br \/>\n        <b><br \/>\n          <br \/>Twitter: <\/b><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3231120-1&amp;h=3296030484&amp;u=https%3A%2F%2Ftwitter.com%2Fbmomedia%3Flang%3Den&amp;a=%40BMOMedia\" rel=\"nofollow noopener\">@BMOMedia<\/a>\n      <\/p>\n<p>SOURCE  BMO Financial Group<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C3332&amp;Transmission_Id=202107161700CANADANWWEB______C3332&amp;DateId=20210716\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire TORONTO, July 16, 2021 \/CNW\/ &#8211;\u00a0Bank of Montreal (TSX: BMO) (NYSE: BMO) (the &#8220;Bank&#8221;) today announced its intention to redeem all of its 9,425,607 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 (&#8220;Preferred Shares Series 25&#8221;) for an aggregate total of approximately $236 million and all of its 2,174,393 outstanding Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 (&#8220;Preferred Shares Series 26&#8221;) for an aggregate total of approximately $54 million on August 25, 2021. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 25 and the Preferred Shares Series 26 are redeemable at the Bank&#8217;s option on August 25, 2021, at a redemption price of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-514216","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TORONTO, July 16, 2021 \/CNW\/ &#8211;\u00a0Bank of Montreal (TSX: BMO) (NYSE: BMO) (the &#8220;Bank&#8221;) today announced its intention to redeem all of its 9,425,607 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 (&#8220;Preferred Shares Series 25&#8221;) for an aggregate total of approximately $236 million and all of its 2,174,393 outstanding Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 (&#8220;Preferred Shares Series 26&#8221;) for an aggregate total of approximately $54 million on August 25, 2021. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 25 and the Preferred Shares Series 26 are redeemable at the Bank&#8217;s option on August 25, 2021, at a redemption price of &hellip; Continue reading &quot;Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-16T21:03:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C3332&amp;Transmission_Id=202107161700CANADANWWEB______C3332&amp;DateId=20210716\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26\",\"datePublished\":\"2021-07-16T21:03:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\\\/\"},\"wordCount\":321,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C3332&amp;Transmission_Id=202107161700CANADANWWEB______C3332&amp;DateId=20210716\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\\\/\",\"name\":\"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/","og_locale":"en_US","og_type":"article","og_title":"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 - Market Newsdesk","og_description":"Canada NewsWire TORONTO, July 16, 2021 \/CNW\/ &#8211;\u00a0Bank of Montreal (TSX: BMO) (NYSE: BMO) (the &#8220;Bank&#8221;) today announced its intention to redeem all of its 9,425,607 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 (&#8220;Preferred Shares Series 25&#8221;) for an aggregate total of approximately $236 million and all of its 2,174,393 outstanding Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 (&#8220;Preferred Shares Series 26&#8221;) for an aggregate total of approximately $54 million on August 25, 2021. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 25 and the Preferred Shares Series 26 are redeemable at the Bank&#8217;s option on August 25, 2021, at a redemption price of &hellip; Continue reading \"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-16T21:03:12+00:00","og_image":[{"url":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C3332&amp;Transmission_Id=202107161700CANADANWWEB______C3332&amp;DateId=20210716","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26","datePublished":"2021-07-16T21:03:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/"},"wordCount":321,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/#primaryimage"},"thumbnailUrl":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C3332&amp;Transmission_Id=202107161700CANADANWWEB______C3332&amp;DateId=20210716","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bank-of-montreal-to-redeem-non-cumulative-5-year-rate-reset-class-b-preferred-shares-series-25-and-non-cumulative-floating-rate-class-b-preferred-shares-series-26\/","name":"Bank of Montreal to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 and Non-Cumulative Floating Rate Class B Preferred Shares, Series 26 - 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