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BCE Inc. (NYSE: BCE) to convert all Series AJ preferred shares by August 4, 2026

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

BCE Inc. reports the results of its interconversion of Cumulative Redeemable First Preferred Shares, Series AI and Series AJ. All floating-rate Series AJ Preferred Shares will be converted into fixed-rate Series AI Preferred Shares on August 4, 2026, on a one-for-one basis.

A total of 1,875 of BCE’s 8,584,140 Series AI shares were tendered for conversion into Series AJ, while 1,976,448 of its 3,514,957 Series AJ shares were tendered into Series AI. Because this would leave fewer than 2,000,000 Series AJ shares, all remaining Series AJ shares will also convert to Series AI on that date. The Series AI shares will pay a quarterly fixed cash dividend at an annual rate of 5.10% for the five-year period beginning August 4, 2026 and will continue trading on the Toronto Stock Exchange under the symbol BCE.PR.I.

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Series AI preferred shares referenced 8,584,140 shares Total Series AI Preferred Shares referenced, of which 1,875 were tendered for conversion
Series AJ preferred shares referenced 3,514,957 shares Total Series AJ Preferred Shares referenced, of which 1,976,448 were tendered for conversion
Series AI tendered for conversion 1,875 shares Series AI Preferred Shares tendered for conversion into Series AJ on August 4, 2026
Series AJ tendered for conversion 1,976,448 shares Series AJ Preferred Shares tendered for conversion into Series AI on August 4, 2026
Automatic conversion threshold 2,000,000 shares If fewer than 2,000,000 Series AJ Preferred Shares would remain outstanding, all remaining convert to Series AI
Series AI dividend rate 5.10% per annum Annual fixed dividend rate for Series AI for the five-year period beginning August 4, 2026
Cumulative Redeemable First Preferred Shares financial
"floating-rate Cumulative Redeemable First Preferred Shares, Series AJ"
Cumulative redeemable first preferred shares are a type of preferred stock that pays regular dividends which, if skipped, accumulate and must be paid later before common shareholders receive dividends; think of it as a savings account where missed interest builds up. They rank ahead of common shares for dividend payments and in liquidation, and the issuer has the right to buy them back at a predetermined price or time, so they matter to investors seeking steady income with higher priority than common stock but limited upside and call risk.
floating-rate financial
"all of its floating-rate Cumulative Redeemable First Preferred Shares, Series AJ"
A floating-rate is an interest rate on a loan, bond or other debt that moves up or down over time based on a regularly published reference number, so the payments change as market rates change. For investors, that means income and interest costs track current market conditions—like a thermostat that adjusts with room temperature—offering protection when rates rise but adding uncertainty about future cash flow.
fixed cash dividend financial
"will pay on a quarterly basis ... a fixed cash dividend"
fixed-rate financial
"into fixed-rate Cumulative Redeemable First Preferred Shares, Series AI"
A fixed-rate is an arrangement where the interest or return on a loan, bond, or other financial obligation stays the same for a specified period instead of changing with market conditions. For investors, that means predictable payments and easier budgeting—like locking in a grocery price for a year—but it also means missing out if market rates fall, and it may be less attractive if inflation or rates rise significantly.
Toronto Stock Exchange financial
"The Series AI Preferred Shares will continue to be listed on the Toronto Stock Exchange"
The Toronto Stock Exchange is Canada’s largest organized marketplace where shares of publicly traded companies are bought and sold, similar to a large, regulated marketplace for company ownership. It matters to investors because it provides transparent prices, rules that help protect buyers and sellers, and access to many Canadian and international businesses, so movements there can signal economic trends and affect portfolio values.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What preferred share conversion did BCE (BCE) announce?

BCE Inc. announced that all of its floating-rate Series AJ preferred shares will be converted into fixed-rate Series AI preferred shares on August 4, 2026. The move follows a scheduled interconversion process between the two series of Cumulative Redeemable First Preferred Shares.

How many Series AI and Series AJ preferred shares were tendered in BCE (BCE)'s conversion?

Holders tendered 1,875 of BCE’s 8,584,140 Series AI Preferred Shares for conversion into Series AJ and 1,976,448 of its 3,514,957 Series AJ Preferred Shares for conversion into Series AI, all on a one-for-one basis effective August 4, 2026.

What triggered the automatic conversion of all Series AJ preferred shares at BCE (BCE)?

Automatic conversion is triggered because the elections would leave fewer than 2,000,000 Series AJ Preferred Shares outstanding. Under the share terms, this condition causes all remaining Series AJ shares not tendered for conversion to be automatically converted into Series AI on August 4, 2026.

What dividend will BCE (BCE)'s Series AI preferred shares pay after the conversion?

Series AI Preferred Shares will pay a quarterly fixed cash dividend based on an annual rate of 5.10% for a five-year period beginning on August 4, 2026, subject to declaration by BCE’s Board of Directors, replacing the floating-rate dividend on Series AJ shares.

Where will BCE (BCE)'s Series AI preferred shares trade after the conversion?

Following the conversion, Series AI Preferred Shares will continue to be listed on the Toronto Stock Exchange under the symbol BCE.PR.I. Investors holding Series AJ will end up holding Series AI, which will remain the listed class on the TSX.

What happens to BCE (BCE) shareholders who elected to convert Series AI into Series AJ?

Registered shareholders who elected to convert Series AI into Series AJ will have their Series AI share certificates returned by TSX Trust Company. Because all Series AJ shares convert into Series AI on August 4, 2026, these holders will effectively remain in Series AI.
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

 

July 23, 2026

Commission File Number: 1-8481

 

 

BCE Inc.

(Translation of registrant’s name into English)

 

 

1, carrefour Alexander-Graham-Bell,

Verdun, Québec

Canada H3E 3B3

(514) 870-8777

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F

Notwithstanding any reference to BCE Inc.’s Web site on the World Wide Web in the document attached hereto, the information contained in BCE Inc.’s site or any other site on the World Wide Web referred to in BCE Inc.’s site is not a part of this Form 6-K and, therefore, is not furnished to the Securities and Exchange Commission.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    BCE Inc.
Date: July 23, 2026     By:  

/s/ Melanie Schweizer

      Name: Melanie Schweizer
      Title: Senior Vice-President, Corporate Services and
Corporate Secretary


EXHIBIT INDEX

 

Exhibit

    
99.1   

News Release

Exhibit 99.1

 

LOGO    LOGO

For Immediate Release    

BCE reports results of Series AI and AJ preferred share conversions

MONTRÉAL, July 22, 2026 – BCE Inc. (TSX: BCE) (NYSE: BCE) today announced that all of its floating-rate Cumulative Redeemable First Preferred Shares, Series AJ (“Series AJ Preferred Shares”) will be converted on August 4, 2026, on a one-for-one basis, into fixed-rate Cumulative Redeemable First Preferred Shares, Series AI (“Series AI Preferred Shares”).

On June 16, 2026, notice was provided that holders of Series AI Preferred Shares could elect to convert their shares into Series AJ Preferred Shares and that holders of Series AJ Preferred Shares could elect to convert their shares into Series AI Preferred Shares, subject to the terms and conditions attached to those shares. A total of 1,875 of BCE’s 8,584,140 Series AI Preferred Shares were tendered for conversion on August 4, 2026, on a one-for-one basis, into Series AJ Preferred Shares. In addition, a total of 1,976,448 of BCE’s 3,514,957 Series AJ Preferred Shares were tendered for conversion on August 4, 2026, on a one-for-one basis, into Series AI Preferred Shares. As this would result in there being less than 2,000,000 Series AJ Preferred Shares outstanding, all remaining Series AJ Preferred Shares not tendered for conversion will, as per the terms and conditions attached to those shares, be automatically converted into Series AI Preferred Shares on August 4, 2026.

Registered shareholders who had elected to convert their Series AI Preferred Shares will have the share certificates representing the number of Series AI Preferred Shares tendered for conversion returned to them by TSX Trust Company.

The Series AI Preferred Shares will pay on a quarterly basis, for the five-year period beginning on August 4, 2026, as and when declared by the Board of Directors of BCE, a fixed cash dividend based on an annual fixed dividend rate of 5.10%. The Series AI Preferred Shares will continue to be listed on the Toronto Stock Exchange under the symbol BCE.PR.I.

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.

LOGO Media inquiries:

Ellen Murphy

media@bell.ca

Investor inquiries:

Krishna Somers

krishna.somers@bell.ca

Filing Exhibits & Attachments

1 document