MONTRÉAL, Nov. 17, 2015
/PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced
that none of its fixed rate Cumulative Redeemable First Preferred
Shares, Series R (Series R Preferred Shares) will be converted into
floating rate Cumulative Redeemable First Preferred Shares, Series
Q (Series Q Preferred Shares) on December 1,
2015.
On October 15, 2015, BCE notified
holders of Series R Preferred Shares that they could elect to
convert their shares into Series Q Preferred Shares subject to the
terms and conditions attached to those shares. Only 157,586 of
BCE's 8,000,000 Series R Preferred Shares were tendered for
conversion on December 1, 2015 into
Series Q Preferred Shares. As this would result in there being less
than one million Series Q Preferred Shares outstanding, no Series R
Preferred Shares will, as per the terms and conditions attached to
those shares, be converted on December 1,
2015 into Series Q Preferred Shares. Shareholders who had
elected to convert their Series R Preferred Shares will be
receiving, by December 1, 2015, share
certificates representing the number of Series R Preferred Shares
tendered for conversion.
The Series R Preferred Shares will continue to be listed on the
Toronto Stock Exchange under the symbol BCE.PR.R. The Series R
Preferred Shares will pay on a quarterly basis, for the five-year
period beginning on December 1, 2015,
as and when declared by the Board of Directors of BCE, a fixed cash
dividend based on an annual dividend rate of 4.130%.
About BCE
Canada's
largest communications company, BCE provides a comprehensive and
innovative suite of broadband communication services to residential
and business customers 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, including CTV, Canada's #1 television network, and the
country's most-watched specialty channels. 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 Clara's Big
Ride for Bell Let's Talk and 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
Bell Communications
(514) 870-4739
jean_charles.robillard@bell.ca
Investor inquiries:
Thane Fotopoulos
BCE Investor Relations
(514) 870-4619
thane.fotopoulos@bell.ca
SOURCE BCE Inc.