preference share

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preference share

a special type of share in a company, which has the characteristic that it confers an entitlement to a specified percentage rate of dividend that is payable in priority to the claims of ordinary shareholders. A company's share capital maybe split between ordinary shares and preference shares. Ordinary shareholders are entitled to the remaining profits that have been appropriated for the payment of dividends.
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During a Department of Finance--Tax Executives Institute (TEI) Liaison Meeting, the merits of eliminating the Term Preferred Share (TPS) and related rules (such as the guaranteed preference and collateral preference rules) from the Income Tax Act (the "Act") were discussed.
intermediate holding company and class E designation to the non-cumulative preferred shares and innovative tier 1 securities issued in Canada.
From and after the redemption date, the Preferred Shares will no longer be deemed outstanding, dividends will cease to accrue and all the rights of the Preferred Shareholders with respect to the Preferred Shares will cease, except the right to receive the redemption price.
The Preferred Shares were issued on June 20, 2001 and became callable at any time after June 20, 2006 at the liquidation preference of $25.
The redemption will be made pro rata from each Preferred Shareholder based on the respective number of Preferred Shares held by each such holder on the redemption date.
The Preferred Shares will only be converted into Common Shares after the Preferred shareholders surrender their preferred share certificates to any of the Company's addresses in Canada, Philippines or the U.
The common shares and the preferred shares will be sold pursuant to an effective registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission.
The foregoing conversion right is subject to the conditions that: (i) if, after March 5, 2018, Manulife determines that there would be less than 1,000,000 Series 11 Preferred Shares outstanding on March 19, 2018, then all remaining Series 11 Preferred Shares will automatically be converted into an equal number of Series 12 Preferred Shares on March 19, 2018, and (ii) alternatively, if, after March 5, 2018, Manulife determines that there would be less than 1,000,000 Series 12 Preferred Shares outstanding on March 19, 2018, then no Series 11 Preferred Shares will be converted into Series 12 Preferred Shares.
Canada's Scotiabank (NYSE: BNS) (TSX: BNS) has said that it has declared dividends on its outstanding shares, common and non-cumulative preferred shares (preferred shares), for the quarter ending October 31, 2017
A formal notice of the right to convert Series 5 Preferred Shares into Series 6 Preferred Shares will be sent to the registered holders of the Series 5 Preferred Shares in accordance with the share conditions of the Series 5 Preferred Shares.
The Fund will redeem 100% (2,050 shares) of its then outstanding Series M Auction Rate Preferred Shares par value $.
10% Series A-1 Cumulative Preferred Shares ("Series A-1 Preferred Shares") and 7.

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