BCE Inc Stock Price, News & Analysis

On November 12, 2021, Bell Canada announced the successful completion of a consent and proxy solicitation regarding proposed amendments to its 1976 trust indenture. The extraordinary resolution received support from over 66 2/3% of debenture holders at a special meeting. Following this approval, Bell plans to execute a supplemental indenture, with a fee of $0.50 per $1,000 principal for consenting debenture holders. Key debenture series affected include 10% Debentures Series EH and 9.7% Debentures Series EJ, among others.

Bell Canada announced a special meeting for debentureholders on November 12, 2021, to discuss proposed amendments to its trust indenture from 1976. The amendments require approval from at least 66 2/3% of debentureholders present at the meeting. Debentureholders holding more than 50% of the outstanding principal have already submitted proxy voting instructions, ensuring a quorum. The meeting will be conducted virtually starting at 10:00 AM Eastern. More details can be found in the solicitation statement.

BCE Inc. announced the conversion results of its Preferred Shares. On November 1, 2021, 9,593 Series T Preferred Shares will convert to Series S, while 1,393,174 Series S will convert to Series T. Post-conversion, BCE will have 5,870,133 Series T and 2,128,267 Series S Preferred Shares outstanding. Series T will pay a fixed quarterly dividend of 4.990%, and Series S will maintain a monthly floating dividend based on the prime rate. Both series will continue to trade on the Toronto Stock Exchange under the symbols BCE.PR.T and BCE.PR.S.

Bell Canada has initiated a Consent and Proxy Solicitation for holders of its various debentures, including Series EH, EJ, EO, EU, and EZ, to approve amendments to its 1976 Indenture. These Proposed Amendments aim to align with current market practices in Canada and enhance operational flexibility for raising capital. Approval requires consent from at least 66 2/3% of the debenture holders. If granted, amendments will not change interest rates or maturity dates. A special virtual meeting is scheduled for November 12, 2021, if necessary, with the consent solicitation ending on November 8, 2021.

NICE has announced a partnership with Bell, Canada’s largest communications company, to offer CXone, a leading contact center as a service (CCaaS) platform, across Canada. This collaboration aims to enhance digital customer experiences using Bell's high-speed network. With the integration of NICE’s omnichannel customer service capabilities, companies can manage customer interactions seamlessly. This partnership positions NICE and Bell to cater to evolving consumer expectations for efficient and flexible customer service solutions.

On August 9, 2021, Bell Canada announced a public offering in the United States of $1.25 billion in Notes, consisting of $600 million Series US-5 Notes maturing in 2032 and $650 million Series US-6 Notes maturing in 2052. The proceeds will help cover the $2.07 billion cost for acquiring spectrum licenses from the July 2021 Canadian auction and will be used for repaying short-term debt. The offering is expected to close on August 12, 2021, and the Notes are fully guaranteed by BCE.

BCE reported its third-quarter earnings, showing a revenue increase to CAD 6.1 billion, a 2.5% rise year-over-year. The company added 90,000 new wireless subscribers, boosting total subscribers to 10.2 million. Adjusted EBITDA for the quarter reached CAD 2.5 billion, reflecting a 3.4% growth. However, net income decreased by 4% to CAD 1.1 billion. BCE maintained its annual dividend at CAD 3.60 per share, signaling continued confidence in cash flow generation.

BCE Inc. (TSX: BCE) announced the conversion results of its preferred shares on July 23, 2021. A total of 12,985 Series AI Cumulative Redeemable First Preferred Shares have been converted into Series AJ Preferred Shares, while 3,598,141 Series AJ shares have converted to Series AI. After conversion on August 1, 2021, there will be 9,535,040 Series AI and 4,464,960 Series AJ shares outstanding. Series AI will pay a fixed quarterly dividend of 3.39%, while Series AJ will feature a float-based monthly dividend calculated against the prime rate.