Cenovus to Redeem $300M of Series 1 & 2 Preferred Shares at $25
Cenovus Energy will redeem all 2.577% Series 1 and 3.948% Series 2 preferred shares on March 31, 2026, at $25.00 per share for an aggregate $300 million. Final dividends of $0.16106 (Series 1) and $0.24337 (Series 2) will be paid to record holders on that date.
1. Redemption Announcement
Cenovus Energy will exercise its right to redeem all outstanding 2.577% Series 1 and 3.948% Series 2 preferred shares on March 31, 2026, at a redemption price of $25.00 per share, representing an aggregate redemption value of $300 million.
2. Dividend and Record Date
Quarterly dividends of $0.16106 per Series 1 share and $0.24337 per Series 2 share will be paid on March 31, 2026 to holders of record as of March 13, 2026. These dividends will be the final payments on both series.
3. Funding and Next Steps
The redemption will be funded primarily from cash on hand, reducing preferred equity obligations and impacting the company’s liquidity position. Registered and beneficial holders should contact Computershare or their brokers to confirm redemption proceeds receipt.