The Toronto Stock Exchange reports that National Bank of Canada's non-cumulative five-year rate reset first preferred shares, Series 32 (symbol NA.PR.W), will be halted at the open and delisted at the close on Feb. 18, 2025. According to the TSX, the bank will redeem the Series 32 shares for $25 per share. As the redemption date of Feb. 15, 2025, is a Saturday, the redemption price will be paid to shareholders on Monday, Feb. 17, 2025, although the TSX will be closed on Feb. 17, 2025, for Family Day.

The TSX notes that separately from the redemption price, the final quarterly dividend of 23.99375 cents per Series 32 share will be paid in the usual manner to holders of record at the close of business on Jan. 6, 2025. The TSX has been advised that this dividend will be paid on Monday, Feb. 17, 2025, given that Feb. 15, 2025, is a Saturday.

As the Series 32 shares are held through the book-entry-only system of CDS and no individual certificates are issued, holders of the Series 32 shares need not take any action with respect to the redemption. For more information, see the bank's news release dated Dec. 18, 2024.