BCE to convert all Series AN preferred into Series AM
BCE Inc. reports the final results of shareholder elections to convert two series of preferred shares.
Rhea-AI Filing Summary
BCE Inc. reports the final results of shareholder elections to convert two series of preferred shares. On March 31, 2026, all floating-rate Series AN preferred shares will be converted on a one-for-one basis into fixed-rate Series AM preferred shares, following limited voluntary elections by holders of both series.
Only 2,276 of 8,802,551 Series AM shares were elected for conversion into Series AN shares, while 348,545 of 948,622 Series AN shares were elected for conversion into Series AM shares. Because this would leave fewer than 1,000,000 Series AN shares outstanding, all remaining Series AN shares will also automatically convert into Series AM shares on that date.
For the five-year period beginning March 31, 2026, the Series AM preferred shares will pay a fixed quarterly cash dividend based on an annual dividend rate of 4.837%, as and when declared by BCE’s Board of Directors. These Series AM preferred shares will remain listed on the Toronto Stock Exchange under the symbol BCE.PR.M.
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