MONTRÉAL, Oct. 18, 2016 /CNW
Telbec/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that
455,302 of its 4,393,775 fixed-rate Cumulative Redeemable First
Preferred Shares, Series T ("Series T Preferred Shares") have been
tendered for conversion on November 1,
2016, on a one-for-one basis, into floating-rate Cumulative
Redeemable First Preferred Shares, Series S ("Series S Preferred
Shares"). In addition, 548,079 of its 3,606,225 Series S Preferred
Shares have been tendered for conversion on November 1, 2016, on a one-for-one basis, into
Series T Preferred Shares. Consequently, on November 1, 2016, BCE will have 4,486,552 Series
T Preferred Shares and 3,513,448 Series S Preferred Shares issued
and outstanding. The Series T Preferred Shares and the Series S
Preferred Shares will continue to be listed on the Toronto Stock
Exchange under the symbols BCE.PR.T and BCE.PR.S, respectively.
The Series T Preferred Shares will pay on a quarterly basis, for
the five-year period beginning on November
1, 2016, as and when declared by the Board of Directors of
BCE, a fixed cash dividend based on an annual fixed dividend rate
of 3.019%.
The Series S Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the five-year period
beginning on November 1, 2016, 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 S
Preferred Shares in the preceding month) and the Designated
Percentage for the preceding month.
About BCE
Canada's largest communications company, BCE
provides broadband wireless, TV, Internet and business
communication services from Bell Canada and Bell Aliant. Bell
Media is Canada's premier multimedia company with leading assets in
television, radio, out of home and digital media. To learn more,
please visit BCE.ca.
The Bell Let's Talk initiative 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. To learn more, please visit
Bell.ca/LetsTalk.
Media inquiries:
Jean Charles Robillard
(514) 870-4739
jean_charles.robillard@bell.ca
Investor inquiries:
Thane Fotopoulos
(514) 870-4619
thane.fotopoulos@bell.ca
SOURCE Bell Canada