RBC Capital Markets, CIBC and Scotiabank will lead a syndicate of underwriters for the share offering that will close on or about 15 August.
Shareholders will be entitled to receive a cumulative quarterly fixed dividend yielding 5.30% annually for the initial period ending 30 September 2019.
Thereafter, the company will reset the dividend rate every five years at a rate equal to the 5-year Government of Canada bond yield plus 3.80%.
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