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Big 8 Split announces partial redemption of shares.

Global Banking News-December 4, 2017--Big 8 Split announces partial redemption of shares

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Global Banking News - 04 December 2017

Big 8 Split Inc. (TSX: BIG.D) (TSX: BIG.PR.D) has said that it will redeem a total of 153,961 class D preferred shares and 153,961 class D capital shares, or nearly 14.90 percent of both classes of shares currently outstanding.

The redemption comes as holders of 153,961 units exercise their special annual concurrent retraction privilege.

The holders will only be entitled to receive dividends on those which have been declared but remain unpaid up to and including December 15, 2017, the company said. Payments and delivery of cash and common shares owing as a result of shareholders having exercised their retraction privilege, will be made by the company on December 15, 2017, it added.

Big 8 Split Inc was formed to generate dividend income for the class D preferred shares, as well as providing holders of the class D capital shares by investing in a portfolio of common shares of Bank of Montreal (NYSE: BMO) (TSX: BMO), The Bank of Nova Scotia (NYSE: BNS) (TSX: BNS), Canadian Imperial Bank of Commerce(CIBC) (NYSE: CM) (TSX: CM) , Royal Bank of Canada(RBC) (TSX: RY) (NYSE: RY), The Toronto-Dominion Bank(TSX: TD) (NYSE: TD), Great-West Lifeco Inc (TSX: GWO), Manulife Financial Corporation (TSX: MFC) (NYSE: MFC), and Sun Life Financial Inc(TSX: SLF) (NYSE: SLF).

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Publication:Global Banking News (GBN)
Date:Dec 4, 2017
Words:266
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