MONTRÉAL, Nov. 17, 2017 /CNW
Telbec/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that
585,184 of its 1,227,532 fixed-rate Cumulative Redeemable First
Preferred Shares, Series Z ("Series Z Preferred Shares") have been
tendered for conversion on December 1,
2017, on a one-for-one basis, into floating-rate Cumulative
Redeemable First Preferred Shares, Series Y ("Series Y Preferred
Shares"). In addition, 1,276,161 of its 8,772,468 Series Y
Preferred Shares have been tendered for conversion on December 1, 2017, on a one-for-one basis, into
Series Z Preferred Shares. Consequently, on December 1, 2017, BCE will have 1,918,509 Series
Z Preferred Shares and 8,081,491 Series Y Preferred Shares issued
and outstanding. The Series Z Preferred Shares and the Series Y
Preferred Shares will continue to be listed on the Toronto Stock
Exchange under the symbols BCE.PR.Z and BCE.PR.Y, respectively.
The Series Z Preferred Shares will pay on a quarterly basis, for
the five-year period beginning on December
1, 2017, as and when declared by the Board of Directors of
BCE, a fixed cash dividend based on an annual fixed dividend rate
of 3.904%.
The Series Y Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the five-year period
beginning on December 1, 2017, 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 Y
Preferred Shares in the preceding month) and the Designated
Percentage for the preceding month.
About BCE
Canada's largest communications company, BCE
provides a comprehensive and innovative suite of broadband
wireless, TV, Internet and business communication services
from Bell Canada, Bell Aliant and Bell MTS. 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 Lets
Talk Day, and provides significant Bell funding of mental health
care and access, research and workplace leadership 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