MONTRÉAL, Jan. 21,
2025 /PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE)
today announced that 8,050 of its 8,779,487 fixed-rate
Cumulative Redeemable First Preferred Shares, Series AF ("Series AF
Preferred Shares") have been tendered for conversion on
February 1, 2025, on a one-for-one
basis, into floating-rate Cumulative Redeemable First Preferred
Shares, Series AE ("Series AE Preferred Shares"). In addition,
2,479,334 of its 5,810,913 Series AE Preferred Shares have been
tendered for conversion on February 1,
2025, on a one-for-one basis, into Series AF Preferred
Shares. Consequently, excluding any Series AE Preferred Shares and
Series AF Preferred Shares that may be purchased for cancellation
by BCE pursuant to its normal course issuer bid between
January 21, 2025 and February 1, 2025, 11,250,771 Series AF Preferred
Shares and 3,339,629 Series AE Preferred Shares would be issued and
outstanding on February 1, 2025. 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, 2025, as and when declared by the
Board of Directors of BCE, a fixed cash dividend based on an annual
fixed dividend rate of 5.496%.
The Series AE Preferred Shares will continue to pay a monthly
floating adjustable cash dividend for the five-year period
beginning on February 1, 2025, 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,1 providing advanced Bell broadband
Internet, wireless, 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.
|
1 Based
on total revenue and total combined customer
connections.
|
Media inquiries
Ellen Murphy
media@bell.ca
Investor inquiries
Richard Bengian
Richard.bengian@bell.ca
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SOURCE Bell Canada (MTL)