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Bank of N.T. Butterfield & Son completes redemption of preference shares

Hamilton, Bermuda-based Bank of N.T. Butterfield & Son Ltd. completed the redemption of its 8.00% noncumulative perpetual limited voting preference shares.

A make-whole redemption payment of US$1,180 per preference share was issued to preference shareholders as of Dec. 1, according to a press release.

The company has requested to delist the canceled preference shares from the Bermuda Stock Exchange and the Euro MTF market of the Luxembourg Stock Exchange.

Additionally, the bank repurchased a warrant, issued in June 2009, to purchase 432,028 common shares from the Bermuda Government. The warrant has been canceled.