MONTRÉAL, April 21,
2016 /PRNewswire/ - BCE Inc. (TSX, NYSE:
BCE) today announced that 5,884,470 of its 10,841,056
fixed-rate Cumulative Redeemable First Preferred Shares,
Series AG ("Series AG Preferred Shares") have been tendered
for conversion on May 1, 2016, on a
one-for-one basis, into floating-rate Cumulative Redeemable
First Preferred Shares, Series AH ("Series AH Preferred
Shares"). In addition, 28,765 of its 3,158,944 Series
AH Preferred Shares have been tendered for conversion on
May 1, 2016, on a one-for-one basis,
into Series AG Preferred Shares. Consequently, on
May 1, 2016, BCE will have 4,985,351
Series AG Preferred Shares and 9,014,649 Series AH Preferred Shares
issued and outstanding. The Series AG Preferred Shares and the
Series AH Preferred Shares will continue to be listed on the
Toronto Stock Exchange under the symbols BCE.PR.G and BCE.PR.H,
respectively.
The Series AG Preferred Shares will pay on a quarterly
basis, for the five-year period beginning on May 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 2.80%.
The Series AH Preferred Shares will continue to pay a
monthly floating adjustable cash dividend for the five-year period
beginning on May 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 AH
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 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