BCE provides conversion results for series S and series T preferreds

Chicago, Oct. 19 – BCE Inc. (Bell Canada) reported the results of its series S and series T preferred share conversions, according to a press release.

Shareholders tendered for conversion 9,593 of the 4,486,552 fixed-rate cumulative redeemable first preferred shares, series T, on a one-to-one basis into series S shares.

Shareholders have separately tendered 1,393,174 of the 3,511,848 series S floating-rate cumulative redeemable first preferred shares, also on a one-to-one basis into series T shares.

On the conversion date, Nov. 1, there will be 5,870,133 of the series T shares and 2,128,267 of the series S shares.

The series T and series S preferreds will continue to be listed on the Toronto Stock Exchange under the symbols “BCEPrT” and “BCEPrS,” respectively.

The series T preferred shares pay on a quarterly basis, for the five-year period starting Nov. 1, when declared by the board of directors, an annual fixed dividend of 4.99%.

The series S shares will continue to pay a monthly floating adjustable cash dividend for the five-year period starting Nov. 1.

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