Royal Bank of Canada to redeem Non-Cumulative First Preferred
Shares Series O
TORONTO, October 19, 2006 — Royal Bank of Canada
(RY on TSX and NYSE) today announced that on November 24,
2006, it will redeem all of its issued and outstanding Non-Cumulative
First Preferred Shares Series O (the "Series O shares")
for cash at a redemption price of $25.50 per share. This is
comprised of the $25.00 original issue price plus a $0.50
redemption premium.
There are 6,000,000 of Series O shares outstanding, representing
$150 million of capital. The redemption of the Series O shares
will be financed out of the general corporate funds of Royal
Bank of Canada.
Separately from the redemption price, the final quarterly
dividend of $0.34375 per share for the Series O shares will
be paid in the usual manner on November 24, 2006 to shareholders
of record on October 26, 2006.
Please visit www.rbc.com/investorrelations
to view tax Questions & Answers relating to this redemption
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For further information, please contact:
Media contact:
Beja Rodeck, Media Relations, Toronto - (416) 974-5506
Investor Contact:
David Mun, Investor Relations, Toronto - (416) 955-7808
Shirley Boudreau, Shareholder Relations Officer,
Toronto - (416) 955-7806
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