Currently, CGI has no preference shares outstanding.

CGI previously had four series of Class A preference shares that were redeemed in accordance with the terms of their short form prospectuses. CGI’s $60 million 5.40% Class A preference shares, Series 1, which were issued on October 5, 1998, were redeemed on October 6, 2008. CGI’s $75 million 4.65% Class A preference shares, Series 2, which were issued on November 4, 2003, were redeemed on May 29, 2013. CGI’s $75 million 3.90% Class A preference shares, Series 3, which were issued on March 3, 2006, were redeemed on June 10, 2016. CGI’s $75 million 3.75% Class A preference shares, Series 4, which were issued on May 30, 2013, were redeemed on June 12, 2023.

What are Preferred Shares?

Preferred shares are a class of shares that provide an income stream of dividend payments and entitle the shareholder to preferred status relative to holders of common shares in the event of a company's liquidation. Preferred shares usually have voting rights only when a stated number of dividends have been omitted. Some closed-end funds can issue preferred shares as a means of leveraging their common stockholders' returns. In such a case, the proceeds from a preferred offering would be used to increase the investment portfolio of the company.