Stock Information

Upon the successful completion of the reorganization transaction, on February 13, 2020, Power Corporation of Canada acquired all of the issued and outstanding common shares of Power Financial held by holders other than Power Corporation and its wholly owned subsidiaries. 

Accordingly, Power Financial common shares were delisted from the Toronto Stock Exchange effective as of the close of business on February 18, 2020.

Power Financial remains a reporting issuer in all of the provinces and territories of Canada as the below-listed first preferred shares remain outstanding shares of Power Financial. 

To read more about the reorganization, click here.

 

The Series A First Preferred Shares are entitled to a quarterly cumulative dividend at a floating rate equal to one quarter of 70% of the average prime rate of two major Canadian chartered banks. The dividends are payable on the 15th day of February, May, August and November in each year.

The Series A First Preferred Shares are redeemable, at the Corporation’s option, for $25.00 per share, together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 5.50% Non-Cumulative First Preferred Shares, Series D are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.375 per share per annum, payable on the last day of January, April, July and October in each year.

On and after January 31, 2013, the Corporation may redeem for cash the Series D First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 5.25% Non-Cumulative First Preferred Shares, Series E are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.3125 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series E First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 5.90% Non-Cumulative First Preferred Shares, Series F are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.475 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series F First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 5.75% Non-Cumulative First Preferred Shares, Series H are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.4375 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series H First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 6.00% Non-Cumulative First Preferred Shares, Series I are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.50 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series I First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 4.95% Non-Cumulative First Preferred Shares, Series K are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.2375 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series K First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 5.10% Non-Cumulative First Preferred Shares, Series L are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.2750 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series L First Preferred Shares in whole or in part for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The 5.80% Non-Cumulative First Preferred Shares, Series O are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.45 per share per annum, payable on the last day of January, April, July and October in each year.

The Corporation may redeem for cash the Series O First Preferred Shares in whole or in part, at the Corporation’s option, for $25.00 per share together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

Download Prospectus Supplement

The Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series P are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $0.5765 per share per annum, payable on the last day of January, April, July and October in each year.

On January 31, 2021 and on January 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 1.60%.

The Corporation has the right to redeem the Series P First Preferred Shares on January 31, 2021 and on January 31 every five years thereafter, in whole or in part, for $25.00 per share plus declared and unpaid dividends to, but excluding, the date of redemption.

Subject to the Corporation’s right to redeem all the Series P First Preferred Shares, holders of the Series P First Preferred Shares will have the right to convert their shares into Non-Cumulative Floating Rate First Preferred Shares, Series Q of the Corporation, subject to certain conditions, on January 31, 2021 and on January 31 every five years thereafter.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

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The Non-Cumulative Floating Rate First Preferred Shares, Series Q are entitled to a floating non-cumulative, preferential cash dividend payable, with respect to each three-month floating period, on the last day of each of the months of January, April, July and October in each year. The dividend rate for each period is equal to the three-month Government of Canada Treasury Bill yield, determined as of the 30th day prior to the commencement of the three-month period, plus 1.60%, calculated on the basis of the actual number of days in such quarterly period divided by 365. 

The Corporation has the right to redeem the Series Q First Preferred Shares by the payment of a specified cash amount per share as follows:  i) on January 31, 2021 and on January 31 every five years thereafter, $25.00 per share; or ii) on any other date that is not January 31, 2021 or January 31 every five years thereafter, $25.50 per share, in each case plus declared and unpaid dividends to, but excluding, the date of redemption.

Subject to the Corporation’s right to redeem all the Series Q First Preferred Shares, holders of the Series Q First Preferred Shares will have the right to convert their shares into Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series P of the Corporation, subject to certain conditions, on January 31, 2021 and on January 31 every five years thereafter.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

Download Prospectus Supplement

The 5.50% Non-Cumulative First Preferred Shares, Series R are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.375 per share per annum, payable on the last day of January, April, July and October in each year.

On and after April 30, 2018, the Corporation may redeem for cash the Series R First Preferred Shares in whole or in part, at the Corporation’s option, for $25.75 per share if redeemed prior to April 30, 2019, $25.50 if redeemed thereafter and prior to April 30, 2020, $25.25 if redeemed thereafter and prior to April 30, 2021 and $25.00 if redeemed thereafter, in each case together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure.

Download Prospectus Supplement

The 4.80% Non-Cumulative First Preferred Shares, Series S are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.20 per share per annum, payable on the last day of January, April, July and October in each year.

On and after April 30, 2018, the Corporation may redeem for cash the Series S First Preferred Shares in whole or in part, at the Corporation’s option, for $26.00 per share if redeemed prior to April 30, 2019, $25.75 if redeemed thereafter and prior to April 30, 2020, $25.50 if redeemed thereafter and prior to April 30, 2021, $25.25 if redeemed thereafter and prior to April 30, 2022 and $25.00 if redeemed thereafter, in each case together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure.

Download Prospectus Supplement

The Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series T are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.05375 per share per annum, payable on the last day of January, April, July and October in each year.

On January 31, 2024 and on January 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 2.37%.

The Corporation has the right to redeem the Series T First Preferred Shares on January 31, 2024 and on January 31 every five years thereafter, in whole or in part, for $25.00 per share plus declared and unpaid dividends to, but excluding, the date of redemption.

Subject to the Corporation’s right to redeem all the Series T First Preferred Shares, holders of the Series T First Preferred Shares will have the right to convert their shares into Non-Cumulative Floating Rate First Preferred Shares, Series U of the Corporation, subject to certain conditions, on January 31, 2024 and on January 31 every five years thereafter.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure, available at www.sedar.com.

Download Prospectus Supplement

The 5.15% Non-Cumulative First Preferred Shares, Series V are entitled to fixed non-cumulative preferential cash dividends at a rate equal to $1.2875 per share per annum, payable on the last day of January, April, July and October in each year.

On and after July 31, 2022, the Corporation may redeem for cash the Series V First Preferred Shares in whole or in part, at the Corporation’s option, for $26.00 per share if redeemed prior to July 31, 2023, $25.75 if redeemed thereafter and prior to July 31, 2024, $25.50 if redeemed thereafter and prior to July 31, 2025, $25.25 if redeemed thereafter and prior to July 31, 2026 and $25.00 if redeemed thereafter, in each case together with all declared and unpaid dividends to, but excluding, the date of redemption.

For further information regarding the Corporation’s stock, please consult the Corporation’s Annual Information Form and relevant prospectus disclosure.

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