{"id":897279,"date":"2026-04-06T09:19:59","date_gmt":"2026-04-06T14:19:59","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/04\/06\/cenovus-energy-announces-redemption-of-series-1-2-preferred-shares\/"},"modified":"2026-04-06T09:19:59","modified_gmt":"2026-04-06T14:19:59","slug":"cenovus-energy-announces-redemption-of-series-1-2-preferred-shares","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/04\/06\/cenovus-energy-announces-redemption-of-series-1-2-preferred-shares\/","title":{"rendered":"Cenovus Energy announces redemption of Series 1 &#038; 2 Preferred Shares"},"content":{"rendered":"<div>\n<section>\n<p>Article content<\/p>\n<p>CALGARY, Alberta, Feb. 26, 2026 (GLOBE NEWSWIRE) \u2014 Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it will exercise its right to redeem its 2.577% Series 1 Preferred Shares (the \u201cSeries 1 Preferred Shares\u201d) and its 3.948% Series 2 Preferred Shares (the \u201cSeries 2 Preferred Shares\u201d, collectively, the \u201cSeries 1 &#038; 2 Preferred Shares\u201d) on March 31, 2026 (the \u201cRedemption\u201d). All of the Series 1 &#038; 2 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $300 million, less required withholdings, if any, funded primarily from cash on hand.<\/p>\n<\/section>\n<section data-aqa=\"identity-sign-in\" data-async id=\"article-block\">\n<header>\n<div>\n<p><img decoding=\"async\" alt=\"Financial Post\" height=\"37\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/20.9.1\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"><\/p>\n<div>\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p>Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul>\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p>Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul>\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p>Create an account or sign in to continue with your reading experience.<\/p>\n<ul>\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p>Create an account or sign in to continue with your reading experience.<\/p>\n<ul>\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div data-auth-component id=\"auth-screen-form\" aria-live=\"assertive\">\n<h2>Sign In or Create an Account<\/h2>\n<p><span><\/span><span>or<\/span><span><\/span><\/p>\n<\/div>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>As previously announced, the Company\u2019s Board of Directors has declared quarterly dividends of $0.16106 per Series 1 Preferred Share and $0.24337 per Series 2 Preferred Share, each payable on March 31, 2026, to shareholders of record as of March 13, 2026. These will be the final dividends paid on the Series 1 &#038; 2 Preferred Shares.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<div aria-labelledby=\"FinancialPostTopStories227348262017669223770041870188544\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<p>By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Inquiries from registered holders of Series 1 &#038; 2 Preferred Shares should be directed to Cenovus\u2019s Registrar and Transfer Agent, Computershare Investor Services Inc. at 1-866-332-8898 or (514) 982-8717 outside North America. Beneficial holders, who are not directly registered holders of Series 1 &#038; 2 Preferred Shares, should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p><strong>Advisory<\/strong><\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>This news release contains certain forward-looking statements and forward-looking information (collectively referred to as \u201cforward-looking information\u201d), within the meaning of applicable securities legislation, about Cenovus\u2019s current expectations, estimates and projections about the future, based on certain assumptions made in light of the Company\u2019s experiences and perceptions of historical trends. Although Cenovus believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward-looking information in this news release is identified by words such as \u201cpayable\u201d, \u201cshould\u201d, \u201cwill\u201d or similar expressions and includes suggestions of future outcomes, including, but not limited to, statements about: the completion of the Redemption, including the timing and funding thereof and the dividend payments with respect to the Series 1 &#038; 2 Preferred Shares.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and others that apply to the industry generally.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p data-async>Except as required by applicable securities laws, Cenovus disclaims any intention or obligation to publicly update or revise any forward\u2010looking information, whether as a result of new information, future events or otherwise. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. Events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward\u2010looking information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. For additional information regarding Cenovus\u2019s material risk factors, the assumptions made, and risks and uncertainties which could cause actual results to differ from the anticipated results, refer to \u201cRisk Management and Risk Factors\u201d and \u201cAdvisory\u201d in Cenovus\u2019s Management\u2019s Discussion and Analysis for the period ended December 31, 2025, and to the risk factors, assumptions and uncertainties described in other documents Cenovus files from time to time with securities regulatory authorities in Canada, which are available on SEDAR+ at<a data-evt-val=\"{\"control_fields\": {\"mparticle\": {\"keys\": {\"click_source_type\": \"click_source_type\", \"anchor_text\": \"anchor_text\", \"target_url\": \"target_url\", \"layout_section\": \"layout_section\"}, \"mp_event_type\": \"Navigation\", \"extra_keys\": [\"click_vertical_position_percentage\", \"click_vertical_position_pixels\"]}}, \"click_source_type\": \"in-page link\", \"anchor_text\": \" sedarplus.ca\", \"target_url\": \"https:\/\/www.globenewswire.com\/Tracker?data=G5WVNjx-Lr_qPzEeVc3xVHaUGYEzeNJLWtFXPybbVi0A2wd5Jdt73dJhhihEo__wtJ0XOuHLt5pHsMvjKyuUHr0FZIv0LzGVpSeaiLIWtWw=\", \"layout_section\": \"in-page-link\"}\" href=\"https:\/\/www.globenewswire.com\/Tracker?data=G5WVNjx-Lr_qPzEeVc3xVHaUGYEzeNJLWtFXPybbVi0A2wd5Jdt73dJhhihEo__wtJ0XOuHLt5pHsMvjKyuUHr0FZIv0LzGVpSeaiLIWtWw=\" rel=\"nofollow noopener noreferrer\" data-evt=\"click\" data-evt-typ=\"click\" target=\"_blank\"> sedarplus.ca<\/a>, on EDGAR at <a data-evt-val=\"{\"control_fields\": {\"mparticle\": {\"keys\": {\"click_source_type\": \"click_source_type\", \"anchor_text\": \"anchor_text\", \"target_url\": \"target_url\", \"layout_section\": \"layout_section\"}, \"mp_event_type\": \"Navigation\", \"extra_keys\": [\"click_vertical_position_percentage\", \"click_vertical_position_pixels\"]}}, \"click_source_type\": \"in-page link\", \"anchor_text\": \"sec.gov\", \"target_url\": \"https:\/\/www.globenewswire.com\/Tracker?data=51aTZ_mQhng4LWHcykHWYXOg4V-2xwqMaibVQnXD6fl3lczzJm6sCU8sdu_S0nrTKiQfKh7W1Oohn7fD4l3xnQ==\", \"layout_section\": \"in-page-link\"}\" href=\"https:\/\/www.globenewswire.com\/Tracker?data=51aTZ_mQhng4LWHcykHWYXOg4V-2xwqMaibVQnXD6fl3lczzJm6sCU8sdu_S0nrTKiQfKh7W1Oohn7fD4l3xnQ==\" rel=\"nofollow noopener noreferrer\" data-evt=\"click\" data-evt-typ=\"click\" target=\"_blank\">sec.gov<\/a> and Cenovus\u2019s website at <a data-evt-val=\"{\"control_fields\": {\"mparticle\": {\"keys\": {\"click_source_type\": \"click_source_type\", \"anchor_text\": \"anchor_text\", \"target_url\": \"target_url\", \"layout_section\": \"layout_section\"}, \"mp_event_type\": \"Navigation\", \"extra_keys\": [\"click_vertical_position_percentage\", \"click_vertical_position_pixels\"]}}, \"click_source_type\": \"in-page link\", \"anchor_text\": \"cenovus.com\", \"target_url\": \"https:\/\/www.globenewswire.com\/Tracker?data=oUQA8W4y3-KdImAs4EQFe08_OleBf-2F06cHpxMEWIgurlzvBkxGVH4JiZB4GOaVC1okOk3hJ5rmgGIb0zaxRg==\", \"layout_section\": \"in-page-link\"}\" href=\"https:\/\/www.globenewswire.com\/Tracker?data=oUQA8W4y3-KdImAs4EQFe08_OleBf-2F06cHpxMEWIgurlzvBkxGVH4JiZB4GOaVC1okOk3hJ5rmgGIb0zaxRg==\" rel=\"nofollow noopener noreferrer\" data-evt=\"click\" data-evt-typ=\"click\" target=\"_blank\">cenovus.com<\/a>.<\/p>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/financialpost.com\/globe-newswire\/cenovus-energy-announces-redemption-of-series-1-2-preferred-shares\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article content CALGARY, Alberta, Feb. 26, 2026 (GLOBE NEWSWIRE) \u2014 Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it will exercise its right to redeem its 2.577% Series 1 Preferred Shares (the \u201cSeries 1 Preferred Shares\u201d) and its 3.948% Series 2 Preferred Shares (the \u201cSeries 2 Preferred Shares\u201d, collectively, the \u201cSeries 1 &amp; 2<\/p>\n","protected":false},"author":1,"featured_media":897280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25019,22983],"tags":[107455,6506],"class_list":{"0":"post-897279","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cenovus","8":"category-energy","9":"tag-cenovus","10":"tag-energy"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/897279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=897279"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/897279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/897280"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=897279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=897279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=897279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}