Fairfax financial (FRFHF) Holdings announced its intention to redeem all of its 7,515,642 outstanding 5-year cumulative floating rate preferred stock, Series C, and all of its 2,484,358 outstanding cumulative floating rate preferred stock, Series D, on December 31, 2024 at a redemption price equal to C$25.00 per share, for a total consideration of approximately C$250 million, together with all accrued amounts and unpaid dividends up to but excluding the Redemption Date, less any taxes to be deducted and retained by Fairfax. Formal notice will be sent to the sole registered holder of the Preferred Shares in accordance with the terms of the Preferred Shares of the applicable series as set forth in Fairfax’s Articles of Incorporation. Regardless of the Redemption Price, the closing quarterly dividend of C$0.294313 per Series C Share will be paid to holders of Series C Shares in the usual manner on December 31, 2024, and the closing quarterly dividend of C$0.47858 per Series D will be paid on December 31, 2024 share will be paid in the usual manner to holders of Series D shares on December 30, 2024, in both cases to registered shareholders on December 13, 2024. Fairfax intends to use a portion of the net proceeds from the previously announced public offering of C$700 million principal amount of its Senior Notes to redeem the outstanding preferred shares.
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