MONTRÉAL, Feb. 21,
2023 /CNW/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today
announced that 3,635,351 of its 9,999,991 fixed-rate Cumulative
Redeemable First Preferred Shares, Series AC ("Series AC Preferred
Shares") have been tendered for conversion on March 1, 2023, on a one-for-one basis, into
floating-rate Cumulative Redeemable First Preferred Shares, Series
AD ("Series AD Preferred Shares"). In addition, 351,634 of its
9,864,509 Series AD Preferred Shares have been tendered for
conversion on March 1, 2023, on a
one-for-one basis, into Series AC Preferred Shares. Consequently,
on March 1, 2023, BCE will have
6,716,274 Series AC Preferred Shares and 13,148,226 Series AD
Preferred Shares issued and outstanding. The Series AC Preferred
Shares and the Series AD Preferred Shares will continue to be
listed on the Toronto Stock Exchange under the symbols BCE.PR.C and
BCE.PR.D, respectively.
The Series AC Preferred Shares will pay on a quarterly basis,
for the five-year period beginning on March
1, 2023, as and when declared by the Board of Directors of
BCE, a fixed cash dividend based on an annual fixed dividend rate
of 5.08%.
The Series AD Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the five-year period
beginning on March 1, 2023, as and
when declared by the Board of Directors of BCE. The monthly
floating adjustable dividend for any particular month will continue
to be calculated based on the prime rate for such month and using
the Designated Percentage for such month representing the sum of an
adjustment factor (based on the market price of the Series AD
Preferred Shares in the preceding month) and the Designated
Percentage for the preceding month.
About BCE
BCE is Canada's largest
communications company, providing advanced Bell broadband wireless,
Internet, TV, media and business communications services. To learn
more, please visit Bell.ca or BCE.ca.
Through Bell for Better, we are investing to create a better
today and a better tomorrow by supporting the social and economic
prosperity of our communities. This includes the Bell Let's Talk
initiative, which promotes Canadian mental health with national
awareness and anti-stigma campaigns like Bell Let's Talk Day and
significant Bell funding of community care and access, research and
workplace initiatives throughout the country. To learn more, please
visit Bell.ca/LetsTalk.
Media inquiries:
Caroline Audet
caroline.audet@bell.ca
Investor inquiries:
Richard Bengian
richard.bengian@bell.ca
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content:https://www.prnewswire.com/news-releases/bce-reports-results-of-series-ac-and-ad-preferred-share-conversions-301751356.html
SOURCE BCE Inc.
