MONTRÉAL, Aug. 22, 2017
/PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that
965,769 of its 10,144,302 fixed-rate Cumulative Redeemable
First Preferred Shares, Series AA ("Series AA Preferred Shares")
have been tendered for conversion on September 1, 2017, on a one-for-one basis, into
floating-rate Cumulative Redeemable First Preferred Shares, Series
AB ("Series AB Preferred Shares"). In addition, 2,219,863 of its
9,855,698 Series AB Preferred Shares have been tendered for
conversion on September 1, 2017, on a
one-for-one basis, into Series AA Preferred Shares. Consequently,
on September 1, 2017, BCE will have
11,398,396 Series AA Preferred Shares and 8,601,604 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 5-year period beginning on September
1, 2017, as and when declared by the Board of Directors of
BCE, a fixed cash dividend based on an annual fixed dividend rate
of 3.61%.
The Series AB Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the 5-year period beginning
on September 1, 2017, 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
Canada's largest communications company, BCE
provides the broadest range of broadband wireless, TV, Internet and
business communication services to consumer and business customers
throughout the country. 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 provides 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