Bombardier announces dividend rate applicable to its Series 3 preferred shares

Eleanor Steed
By Eleanor Steed July 13, 2017 11:59

Bombardier announces dividend rate applicable to its Series 3 preferred shares

Bombardier has announced that as of August 1, 2017, 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 yield to maturity, designated on July 11, 2017 by National Bank Financial Inc. and Scotia Capital Inc., that would be carried by a Government of Canada bond with a five-year maturity, namely 1.503%, multiplied by (b) 265%, which multiplier was previously announced on June 16, 2017.

Accordingly, the annual dividend rate applicable to the Series 3 Preferred Shares for the period of five years beginning on August 1, 2017 will be 3.983%.

Eleanor Steed
By Eleanor Steed July 13, 2017 11:59