MONTRÉAL, Aug. 23,
2022 /CNW Telbec/ - BCE Inc. (TSX: BCE) (NYSE: BCE)
today announced that 1,067,517 of its 11,397,196 fixed-rate
Cumulative Redeemable First Preferred Shares, Series AA ("Series AA
Preferred Shares") have been tendered for conversion on
September 1, 2022, on a one-for-one
basis, into floating-rate Cumulative Redeemable First Preferred
Shares, Series AB ("Series AB Preferred Shares"). In addition,
1,977,982 of its 8,599,204 Series AB Preferred Shares have
been tendered for conversion on September 1,
2022, on a one-for-one basis, into Series AA Preferred
Shares. Consequently, on September 1,
2022, BCE will have 12,307,661 Series AA Preferred Shares
and 7,688,739 Series AB Preferred Shares issued and outstanding.
The Series AA Preferred Shares and the Series AB Preferred Shares
will continue to be listed on the Toronto Stock Exchange under the
symbols BCE.PR.A and BCE.PR.B, respectively.
The Series AA Preferred Shares will pay on a quarterly basis,
for the five-year period beginning on September 1, 2022, as and when declared by the
Board of Directors of BCE, a fixed cash dividend based on an annual
fixed dividend rate of 4.94%.
The Series AB Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the five-year period
beginning on September 1, 2022, 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 AB
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,
Internet, TV, media and business communications services. To learn
more, please visit Bell.ca or BCE.ca.
Through Bell for Better, we are investing to create a better
today and a better tomorrow by supporting the social and economic
prosperity of our communities. This includes the Bell Let's Talk
initiative, which 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 throughout the country. To learn more, please
visit Bell.ca/LetsTalk.
Media inquiries:
Caroline Audet
514
391-9794
caroline.audet@bell.ca
Investor inquiries:
Thane
Fotopoulos
514-870-4619
thane.fotopoulos@bell.ca
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content:https://www.prnewswire.com/news-releases/bce-reports-results-of-series-aa-and-ab-preferred-share-conversions-301610653.html
SOURCE BCE Inc.