MONTRÉAL, March 17, 2021
/PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that
42,423 of its 9,542,615 fixed-rate Cumulative Redeemable First
Preferred Shares, Series AM ("Series AM Preferred Shares") have
been tendered for conversion on March 31,
2021, on a one-for-one basis, into floating-rate Cumulative
Redeemable First Preferred Shares, Series AN ("Series AN Preferred
Shares"). In addition, 939,786 of its 1,952,085 Series AN Preferred
Shares have been tendered for conversion on March 31, 2021, on a one-for-one basis, into
Series AM Preferred Shares. Consequently, on March 31, 2021, BCE will have 10,439,978 Series
AM Preferred Shares and 1,054,722 Series AN Preferred Shares issued
and outstanding. The Series AM Preferred Shares and the Series AN
Preferred Shares will continue to be listed on the Toronto Stock
Exchange under the symbols BCE.PR.M and BCE.PR.N, respectively.
The Series AM Preferred Shares will pay on a quarterly basis,
for the five-year period beginning on March
31, 2021, as and when declared by the Board of Directors of
BCE, a fixed quarterly cash dividend based on an annual dividend
rate of 2.939%.
The Series AN Preferred Shares will continue to pay, for each
quarterly period, as and when declared by the Board of Directors of
BCE Inc., 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, 2021 is 0.53927% (annual
rate of 2.163% based on a T-Bill Rate of 0.073%).
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.
Media inquiries:
Marie-Eve Francoeur
514-391-5263
marie-eve.francoeur@bell.ca
Investor inquiries:
Thane Fotopoulos
514-870-4619
thane.fotopoulos@bell.ca
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SOURCE Bell Canada