JPMorgan Chase & Co. has announced the redemption of all 300,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series HH. This redemption, represented by 3,000,000 depositary shares, will take place on February 1, 2025, at a price of $10,000 per share, equivalent to $1,000 per depositary share. The payment of the redemption price will be made on February 3, 2025, the first business day after the redemption date.
In addition to this redemption, February 1, 2025, also serves as the final dividend payment date for the Series HH Preferred Stock and the depositary shares, with the record date for the dividend set at January 2, 2025.
As of December 31, 2024, JPMorgan Chase & Co. reported $4.0 trillion in assets and $345 billion in stockholders’ equity, reflecting the firm's strong financial position. The firm operates as a leading financial services company in the United States, with a global presence, serving millions of customers in the U.S. and catering to prominent corporate, institutional, and government clients worldwide under the J.P. Morgan and Chase brands. The market has reacted to these announcements by moving the company's shares -0.2% to a price of $265.42. For the full picture, make sure to review JPMorgan Chase &'s 8-K report.
