BCE Converts 121K Series AG and 1.46M Series AH Preferred Shares
On May 1, 2026, BCE will convert 121,070 Series AG preferred shares into Series AH and 1,464,469 Series AH shares into Series AG on a one-for-one basis. Post-conversion, AG shares carry a fixed 5.30% annual dividend over five years, while AH shares pay a monthly prime-rate floating dividend.
1. Conversion Details
BCE announced that holders tendered 121,070 of 8,032,285 Series AG fixed-rate preferred shares and 1,464,469 of 4,175,513 Series AH floating-rate preferred shares for one-for-one conversion on May 1, 2026. The conversions reflect investor preference shifts between fixed and floating dividend instruments.
2. Dividend Rate Terms
Series AG shares will pay a quarterly fixed cash dividend at an annual rate of 5.30% for the five-year period starting May 1, 2026. Series AH shares will pay a monthly floating dividend calculated using the prime rate plus an adjustment factor based on prior-month market price.
3. Outstanding Shares
Following the conversions, BCE will have 9,375,684 Series AG preferred shares and 2,832,114 Series AH preferred shares issued and outstanding. Both series will continue trading on the Toronto Stock Exchange under symbols BCE.PR.G and BCE.PR.H respectively.