BCE reports results of Series Y and Z Preferred Share conversions
MONTREAL, Nov. 20, 2012
MONTREAL, Nov. 20, 2012 /PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today
announced that 1,108,623 of its 1,873,670 fixed-rate Cumulative Redeemable
First Preferred Shares, Series Z ("Series Z Preferred Shares") have been
tendered for conversion on December 1, 2012, on a one-for-one basis, into
floating-rate Cumulative Redeemable First Preferred Shares, Series Y ("Series
Y Preferred Shares"). In addition, 462,485 of its 8,126,330 Series Y Preferred
Shares have been tendered for conversion on December 1, 2012, on a one-for-one
basis, into Series Z Preferred Shares. Consequently, on December 1, 2012, BCE
will have 1,227,532 Series Z Preferred Shares and 8,772,468 Series Y Preferred
Shares issued and outstanding. The Series Z Preferred Shares and the Series Y
Preferred Shares will continue to be listed on the Toronto Stock Exchange
under the symbols BCE.PR.Z and BCE.PR.Y, respectively.
The Series Z Preferred Shares will pay on a quarterly basis, for the five-year
period beginning on December 1, 2012, as and when declared by the Board of
Directors of BCE, a fixed cash dividend based on an annual dividend rate of
The Series Y Preferred Shares will continue to pay a monthly floating
adjustable cash dividend for the five-year period beginning on December 1,
2012, 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 Y Preferred Shares in the preceding month)
and the Designated Percentage for the preceding month.
BCE is Canada's largest communications company, providing a comprehensive and
innovative suite of broadband communication services to residential and
business customers under the Bell and Bell Aliant brands. Bell Media is
Canada's premier multimedia company with leading assets in television, radio
and digital media, including CTV, Canada's leading television network, and the
country's most-watched specialty channels.
The Bell Mental Health Initiative is a multi-year charitable program that
promotes mental health across Canada via the Bell Let's Talk anti-stigma
campaign and support for community care, research and workplace best
practices. To learn more, please visit Bell.ca/LetsTalk. For BCE corporate
information, please visit BCE.ca. For Bell product and service information,
please visit Bell.ca. For Bell Media, please visit BellMedia.ca.
SOURCE BELL CANADA
BCE Investor Relations
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