BCE Sets 4.837% Fixed Rate for Series AM Preferred After Conversions
BCE will convert all floating-rate Series AN preferred shares into fixed-rate Series AM on March 31, 2026, including automatic conversion of remaining AN shares once the outstanding AN floats below 1,000,000. Prior elections saw 348,545 of 948,622 Series AN and 2,276 of 8,802,551 Series AM shares tendered for one-for-one conversion.
1. Conversion Election Results
Holders elected to convert 348,545 of 948,622 floating-rate Series AN and 2,276 of 8,802,551 fixed-rate Series AM preferred shares on a one-for-one basis, with election notices submitted by March 2, 2026.
2. Automatic Conversion Mechanism
Since post-election Series AN holdings will fall below the 1,000,000-share threshold, all remaining Series AN shares will automatically convert into Series AM on March 31, 2026 under the share terms.
3. Series AM Dividend Terms
The converted Series AM shares will carry a fixed quarterly cash dividend at an annual rate of 4.837% for five years, payable as declared by BCE’s board and listed on the Toronto Stock Exchange under symbol BCE.PR.M.