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Aimia Inc. Announces Series 1 Preferred Shares Dividend Rate Reset

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Aimia Inc. Announces Series 1 Preferred Shares Dividend Rate Reset

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Aimia Inc. ( (TSE:AIM) ) has provided an announcement.

Aimia Inc. announced it will not redeem its outstanding Series 1 Preferred Shares on March 31, 2025. Due to a recent Substantial Issuer Bid, there are only 606,658 Series 1 Shares remaining, preventing their conversion into Series 2 Shares. Consequently, the dividend rate for Series 1 Shares will be reset for a five-year period based on the Government of Canada bond yield plus 3.75%. This decision impacts shareholders by maintaining the current structure of preferred shares and resetting dividend rates, which reflects Aimia’s strategic financial management.

More about Aimia Inc.

Aimia Inc. is a diversified company headquartered in Toronto, focusing on the growth potential of its two global businesses: Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. The company’s priorities include monetizing non-core investments, enhancing the value of core holdings, and returning capital to shareholders.

YTD Price Performance: -10.74%

Average Trading Volume: 35,952

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: C$229.4M

For detailed information about AIM stock, go to TipRanks’ Stock Analysis page.

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