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BCE reports results of Series AC and AD preferred share conversions
BCE reports results of Series AC and AD preferred share conversions Canada NewsWire ...
About this update from Bce Inc.
[{"type":"text","content":"\n \n \n \n BCE reports results of Series AC and AD preferred share conversions\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n Feb. 21, 2023\n \n \n /CNW/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that 3,635,351 of its 9,999,991 fixed-rate Cumulative Redeemable First Preferred Shares, Series AC (\"Series AC Preferred Shares\") have been tendered for conversion on\n \n March 1, 2023\n \n , on a one-for-one basis, into floating-rate Cumulative Redeemable First Preferred Shares, Series AD (\"Series AD Preferred Shares\"). In addition, 351,634 of its 9,864,509 Series AD Preferred Shares have been tendered for conversion on\n \n March 1, 2023\n \n , on a one-for-one basis, into Series AC Preferred Shares. Consequently, on\n \n March 1, 2023\n \n , BCE will have 6,716,274 Series AC Preferred Shares and 13,148,226 Series AD Preferred Shares issued and outstanding. The Series AC Preferred Shares and the Series AD Preferred Shares will continue to be listed on the Toronto Stock Exchange under the symbols BCE.PR.C and BCE.PR.D, respectively.\n \n \n The Series AC Preferred Shares will pay on a quarterly basis, for the five-year period beginning on\n \n March 1, 2023\n \n , as and when declared by the Board of Directors of BCE, a fixed cash dividend based on an annual fixed dividend rate of 5.08%.\n \n \n The Series AD Preferred Shares will continue to pay a monthly floating adjustable cash dividend for the five-year period beginning on\n \n March 1, 2023\n \n , 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 AD Preferred Shares in the preceding month) and the Designated Percentage for the preceding month.\n \n \n \n About BCE\n \n \n \n BCE is\n \n Canada's\n \n largest communications company, providing advanced Bell broadba...