MONTREAL, Jan. 21, 2020 /CNW Telbec/ - BCE Inc. (TSX:
BCE), (NYSE: BCE) today announced that 506,975 of its 6,707,867
fixed-rate Cumulative Redeemable First Preferred Shares, Series AF
("Series AF Preferred Shares") have been tendered for conversion on
February 1, 2020, on a one-for-one
basis, into floating-rate Cumulative Redeemable First Preferred
Shares, Series AE ("Series AE Preferred Shares"). In addition,
3,283,795 of its 9,292,133 Series AE Preferred Shares have been
tendered for conversion on February 1,
2020, on a one-for-one basis, into Series AF Preferred
Shares. Consequently, on February 1,
2020, BCE will have 9,484,687 Series AF Preferred Shares and
6,515,313 Series AE Preferred Shares issued and outstanding. The
Series AF Preferred Shares and the Series AE Preferred Shares will
continue to be listed on the Toronto Stock Exchange under the
symbols BCE.PR.F and BCE.PR.E, respectively.
The Series AF Preferred Shares will pay on a quarterly basis,
for the five-year period beginning on February 1, 2020, as and when declared by the
Board of Directors of BCE, a fixed cash dividend based on an annual
fixed dividend rate of 3.865%.
The Series AE Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the five-year period
beginning on February 1, 2020, 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 AE
Preferred Shares in the preceding month) and the Designated
Percentage for the preceding month.
About BCE
BCE is Canada's largest communications
company, providing advanced Bell broadband wireless, TV, Internet
and business communications services alongside Canada's premier
content creation and media assets from Bell Media. To learn more,
please visit Bell.ca or 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 – taking place this year on January
29 – and significant Bell funding of community care and
access, research and workplace leadership initiatives. To learn
more, please visit Bell.ca/LetsTalk.
Media inquiries:
Marie-Eve Francoeur
514-391-5263
marie-eve.francoeur@bell.ca
Investor inquiries:
Thane Fotopoulos
514-870-4619
thane.fotopoulos@bell.ca
View original
content:http://www.prnewswire.com/news-releases/bce-reports-results-of-series-ae-and-af-preferred-share-conversions-300989989.html
SOURCE Bell Canada