Bank of Montreal to redeem Class B Preferred Shares Series 4

Bank of Montreal today announced that on August 27, it will redeem all of its Non-Cumulative Class B Preferred Shares Series 4.

The redemption price, as provided for in the terms of the issue, is $25 a share, together with declared and unpaid dividends to the date of redemption.

As the normal quarterly dividend is due on August 25, thebBank has declared a 2-day stub dividend of $0.006575 per Series 4 share. This results in a total redemption price of $25.006575 per Series 4 share.

Formal notice will be issued to shareholders in accordance with the share conditions. The redemption of the Series 4 shares has been approved by the Office of the Superintendent of Financial Institutions and is part of the bank’s ongoing management of its Tier 1 capital.