BCE Announces Preferred Share Conversions
BCE Inc., a Canadian communications company, announced on March 16, 2026, that all of its floating-rate Cumulative Redeemable First Preferred Shares, Series AN, will convert on a one-for-one basis into fixed-rate Cumulative Redeemable First Preferred Shares, Series AM, effective March 31, 2026, according to PR Newswire. On March 2, 2026, holders were notified that they could elect to convert their Series AM shares into Series AN shares or vice versa, subject to the shares’ terms and conditions.
Details of Tendered Shares
A total of 2,276 of BCE’s 8,802,551 Series AM Preferred Shares have been tendered for conversion into Series AN Preferred Shares on March 31, 2026. Additionally, 348,545 of its 948,622 Series AN Preferred Shares have been tendered for conversion into Series AM Preferred Shares. Since this will result in fewer than 1,000,000 Series AN Preferred Shares outstanding, all remaining Series AN shares not tendered will automatically convert to Series AM shares on the same date, as per the shares’ terms.
Dividend and Listing Information
The Series AM Preferred Shares will pay a fixed quarterly cash dividend, as declared by BCE’s Board of Directors, based on an annual rate of 4.837% for the five-year period beginning March 31, 2026. These shares will continue to be listed on the Toronto Stock Exchange under the symbol BCE.PR.M, according to the announcement.
About BCE
BCE is Canada’s largest communications company, based on total revenue and total combined customer connections, and it leads in fibre and wireless networks, enterprise services, and digital media.
