Cash Dividend On The Way From Canadian Imperial Bank of Commerce's Non-cumulative Class A Preferred Shares Series 27

On 9/25/13, Canadian Imperial Bank of Commerce's Non-cumulative Class A Preferred Shares Series 27 (Toronto: CM-PRE) will trade ex-dividend, for its quarterly dividend of $0.35, payable on 10/28/13. As a percentage of CM.PRE's recent share price of $25.22, this dividend works out to approximately 1.39%, so look for shares of CM.PRE to trade 1.39% lower -- all else being equal -- when CM.PRE shares open for trading on 9/25/13. On an annualized basis, the current yield is approximately 5.56%.