BCE reports results of Series S and T preferred share conversions

BCE (BCE) announced preferred-share conversion results that will shift its outstanding share mix toward fixed-rate Series T on November 2, 2026.

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BCE (BCE) announced preferred-share conversion results that will shift its outstanding share mix toward fixed-rate Series T on November 2, 2026.

Holders tendered 400 Series T shares for conversion into floating-rate Series S shares and 676,765 Series S shares for conversion into Series T shares, each on a one-for-one basis. After conversion, BCE will have 5,474,698 Series T and 1,190,512 Series S shares outstanding.

For the five-year period beginning November 2, 2026, Series T will pay quarterly cash dividends at an annual fixed rate of 5.523%, while Series S will continue paying monthly floating adjustable cash dividends. Both are payable as and when declared by BCE's board. Both series will remain listed on the Toronto Stock Exchange under BCE.PR.T and BCE.PR.S, respectively.

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MONTRÉAL, Oct. 19, 2026 /PRNewswire/ -- BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that 400 of its 4,798,333 fixed-rate Cumulative Redeemable First Preferred Shares, Series T ("Series T Preferred Shares") have been tendered for conversion on November 2, 2026, on a one-for-one basis, into floating-rate Cumulative Redeemable First Preferred Shares, Series S ("Series S Preferred Shares"). In addition, 676,765 of its 1,866,877 Series S Preferred Shares have been tendered for conversion on November 2, 2026, on a one-for-one basis, into Series T Preferred Shares. Consequently, on November 2, 2026, BCE will have 5,474,698 Series T Preferred Shares and 1,190,512 Series S Preferred Shares issued and outstanding. The Series T Preferred Shares and the Series S Preferred Shares will continue to be listed on the Toronto Stock Exchange under the symbols BCE.PR.T and BCE.PR.S, respectively.

The Series T Preferred Shares will pay on a quarterly basis, for the five-year period beginning on November 2, 2026, as and when declared by the Board of Directors of BCE, a fixed cash dividend based on an annual fixed dividend rate of 5.523%.

The Series S Preferred Shares will continue to pay a monthly floating adjustable cash dividend for the five-year period beginning on November 2, 2026, 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 S Preferred Shares in the preceding month) and the Designated Percentage for the preceding month.

About BCE
BCE is Canada's largest communications company¹, leading the way in advanced fibre and wireless networks, enterprise services and digital media. By delivering next-generation technology that leverages cloud-based and AI-driven solutions, we're keeping customers connected, informed and entertained while enabling businesses to compete on the world stage. To learn more, please visit Bell.ca or BCE.ca.

1 Based on total revenue and total combined customer connections.

Media inquiries:
Ellen Murphy
media@bell.ca

Investor inquiries:
Krishna Somers
krishna.somers@bell.ca

View original content:https://www.prnewswire.com/news-releases/bce-reports-results-of-series-s-and-t-preferred-share-conversions-302913268.html

SOURCE BCE Inc.

FAQ

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How many BCE Series S and Series T preferred shares will convert on November 2, 2026?

On November 2, 2026, 400 Series T shares will convert into Series S shares, and 676,765 Series S shares will convert into Series T shares. Both conversions are one-for-one.

What dividend rate will BCE Series T preferred shares pay after the conversion?

Series T preferred shares will pay quarterly cash dividends based on an annual fixed rate of 5.523% for the five-year period beginning November 2, 2026. Dividends are payable as and when declared by BCE's board.

How will BCE calculate the Series S floating preferred-share dividend?

The monthly Series S dividend will continue to depend on the month's prime rate and Designated Percentage. That percentage equals the preceding month's Designated Percentage plus an adjustment factor based on the Series S shares' market price in the preceding month.