Bombardier announces dividend rate applicable to its Series 3 preferred shares

posted on 13th July 2022 by Eddie Saunders
Bombardier announces dividend rate applicable to its Series 3 preferred shares

Bombardier Inc.  today announced that as of August 1, 2022, its Series 3 Preferred Shares will pay, on a quarterly basis, as and when declared by the Board of Directors of Bombardier Inc., cash dividends for the following five years that will be based on a fixed rate equal to the product of (a) the average of the yields to maturity that would be carried by a Government of Canada bond with a five-year maturity, designated on July 11, 2022 by each of National Bank Financial Inc. and TD Securities Inc., namely 3.164%, multiplied by (b) 145%, which multiplier was previously announced on June 17, 2022.

Accordingly, the annual dividend rate applicable to the Series 3 Preferred Shares for the period of five years beginning on August 1, 2022 will be 4.588%.

As a reminder, any registered shareholder who wishes to convert his or her Series 2 and/or Series 3 Preferred Shares must complete and sign the conversion panel contained on the back of the Series 2 or Series 3 Preferred Share certificate, as the case may be, and deliver it to Computershare Investor Services Inc., and any registered shareholder who wishes to revoke or amend his or her previously delivered conversion instructions must notify Computershare Investor Services Inc., in each case at the latest by 5:00 p.m. (Montréal time) on July 18, 2022.

Likewise, shareholders who are beneficial owners and who wish to exercise their right of conversion or, alternatively, revoke or amend their instructions should communicate as soon as possible with their broker or other nominee and follow their instructions.

In that case, it is important that they follow such instructions and act in the timeframe advised so as to provide enough time to their broker or other nominee to meet the July 18, 2022 deadline.