Canadian Imperial Bank Of Commerce 6-K, filed May 30, 2024
Canadian Imperial Bank Of Commerce (CM)
About this 6-K
Canadian Imperial Bank Of Commerce filed this 6-K on May 30, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
| For the month of May, 2024 |
Commission File Number: 1-14678 |
CANADIAN IMPERIAL BANK OF COMMERCE
(Translation of registrant’s name into English)
CIBC Square, 81 Bay Street
Toronto, Ontario
Canada M5J 0E7
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
| Form 20-F ☐ | Form 40-F ☑ |
The information contained in this Form 6-K is incorporated by reference into the Registration Statements on Form S-8 File Nos. 333-130283, 333-09874 and 333-218913 and Form F-3 File Nos. 333-219550, 333-220284, 333-272447, and 333-273505.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
| Date: May 30, 2024 |
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By: | /s/ Allison Mudge | |||
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Name: | Allison Mudge | ||||
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Title: | Senior Vice-President | ||||
Exhibit 99.1
CIBC Declares Dividends for the Quarter Ending July 31, 2024 and announces a change to its Shareholder Investment Plan
TORONTO, May 30, 2024 - CIBC (TSX: CM) (NYSE: CM) announced today that its Board of Directors declared a dividend of $0.90 per share on common shares for the quarter ending July 31, 2024 payable on July 29, 2024 to shareholders of record at the close of business on June 28, 2024.
Class A Preferred Shares
The Board of Directors also declared the following dividends per share:
For the period ending July 31, 2024 payable on July 29, 2024 to shareholders of record at the close of business on June 28, 2024:
Series 39 - $0.232063
Series 41 - $0.244313
Series 43 - $0.196438
Series 47 - $0.367375
Series 51 - $0.321875
Change to the Shareholder Investment Plan
CIBC also announced today that it will make a change to its elections under the CIBC Shareholder Investment Plan (the “Plan”).
Under the Plan, CIBC offers the Dividend Reinvestment Option for Canadian residents and the Stock Dividend Option for US residents, to reinvest dividends, respectively, on their CIBC common shares and preferred shares in the form of CIBC common shares in lieu of receiving their dividends in cash. Canadian resident shareholders may also purchase additional common shares under the Share Purchase Option.
For the July 29, 2024 dividend and for future dividends declared until further notice, common shares received by participants under the Plan will be issued from treasury without a discount. Previously, common shares received by participants under the “Dividend Reinvestment Option” or “Stock Dividend Option” portions of the Plan were issued from treasury at a 2% discount to the Average Market Price (as defined in the Plan).
Registered shareholders resident in Canada or the United States wishing to join the Plan can obtain an enrolment form from CIBC’s agent, TSX Trust Company (Tel: 1-800-387-0825 or e-mail at shareholderinquiries@tmx.com). Once completed, please return the form to TSX Trust Company P.O Box 4229 Station A Toronto, ON M5W 0G1 Fax: 888-488-1416). In order to participate in time for the July 29, 2024 dividend payment date, enrolment forms from registered shareholders must be received by TSX Trust Company before the close of business on
June 21, 2024. Eligible beneficial or non-registered shareholders must contact their financial institution or broker well in advance of the above date for instructions on how to enroll in the Plan.
Existing registered participants in the Plan who would prefer to receive a cash dividend rather than reinvest their dividends on and after July 29, 2024 must deliver written notice to TSX Trust Company at the above address by no later than June 21, 2024. Eligible beneficial or non-registered participants in the Plan who would prefer to receive a cash dividend rather than reinvest their dividends on and after July 29, 2024 must contact their financial institution or broker for instructions on how to terminate participation in the Plan well in advance of June 21, 2024.
A copy of the Plan offering circular describing the terms and conditions applicable to the Plan is available from the Investor Relations section of www.cibc.com or from the agent at www.tsxtrust.com or by e-mail at shareholderinquiries@tmx.com.
About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at https://www.cibc.com/en/about-cibc/media-centre.html.
For further information:
Jason Patchett, CIBC Investor Relations, 416 980-8691, jason.patchett@cibc.com
Erica Belling, CIBC Investor & Financial Communications, 416 594-7251, erica.belling@cibc.com