Big 8 Split to redeem portions of class B, C preferred shares Dec. 14

By Ashley Montgomery

Kansas City, Kan., Nov. 30 - Big 8 Split Inc. plans to redeem 239,890 preferred shares on Dec. 14, according to a news release.

The company will redeem 113,535 class B preferreds and 126,355 class C preferreds.

The shares will be redeemed at $12 per share in cash.

The company said the redemption is a result of holders exercising their special annual retraction rights.

Big 8 Split was established to generate dividend income for holders of the preferred shares while providing holders of the capital shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial Corp. and Sun Life Financial Inc.

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