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Community Bancorp to redeem $500,000 series A preferreds on March 31
Chicago, March 18 – Community Bancorp. plans to redeem five shares of its series A fixed-to-floating rate non-cumulative preferred stock on March 31 at a redemption price of $101,375 per share, which represents the per share liquidation price of $100,000 and a quarterly dividend of $1,375.
As of Monday, there are 20 shares of preferred stock outstanding and the dividend rate in effect for the quarter ending March 31, 2019 is 5.5% per annum.
The company’s board of directors approved the partial redemption of the fixed-to-floating non-cumulative perpetual preferred stock on March 13, according to an 8-K filing with the Securities and Exchange Commission.
The bank holding company for Community National Bank is based in Derby, Vt.
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