MONTRÉAL, March 16, 2016 /CNW
Telbec/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that
1,953,385 of its 11,500,000 fixed-rate Cumulative Redeemable First
Preferred Shares, Series AM (Series AM Preferred Shares) have been
tendered for conversion on March 31,
2016, on a one-for-one basis, into floating-rate Cumulative
Redeemable First Preferred Shares, Series AN (Series AN Preferred
Shares). Consequently, BCE will issue 1,953,385 new Series AN
Preferred Shares on March 31,
2016.
The remaining Series AM Preferred Shares will continue to be
listed on the Toronto Stock Exchange under the symbol BCE.PR.M. The
Series AM Preferred Shares will pay on a quarterly basis, for the
five-year period beginning on March 31,
2016, as and when declared by the Board of Directors of BCE,
a fixed quarterly cash dividend based on an annual dividend rate of
2.764%.
The Series AN Preferred Shares will pay for each quarterly
period beginning with the quarterly period from and including
March 31, 2016 up to but excluding
June 30, 2016, as and when declared
by the Board of Directors of BCE, a quarterly floating cash
dividend based on the T-Bill Rate for such quarterly period plus
2.09%, calculated in accordance with the articles of BCE. The
floating dividend rate applicable to the Series AN Preferred Shares
for the quarterly period beginning on March
31, 2016 is 0.63625% (annual rate of 2.552% based on an
initial T-Bill Rate of 0.462%). The Series AN Preferred Shares will
be listed on the Toronto Stock Exchange under the symbol BCE.PR.N
and will start trading at the opening of the market on March 31, 2016.
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 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:
Richard Bengian
(514) 786-8219
richard.bengian@bell.ca
SOURCE Bell Canada