MONTREAL, Jan. 19 /CNW Telbec/ - BCE Inc. (TSX, NYSE: BCE) today announced that 592,772 of its 14,085,782 Cumulative Redeemable First Preferred Shares, Series AF (series AF preferred shares) have been tendered for conversion, on a one-for-one basis, into Cumulative Redeemable First Preferred Shares, Series AE (series AE preferred shares). In addition, 1,084,090 of its 1,914,218 series AE preferred shares have been tendered for conversion, on a one-for-one basis, into series AF preferred shares. Consequently, on February 1, 2010, BCE will have 1,422,900 series AE preferred shares and 14,577,100 series AF preferred shares issued and outstanding. The series AE preferred shares and the series AF preferred shares will continue to be listed on the Toronto Stock Exchange under the symbols BCE.PR.E and BCE.PR.F respectively.
The series AE preferred shares will continue to pay a monthly floating adjustable cash dividend for the five-year period beginning on February 1, 2010, as and when declared by the Board of Directors of BCE. The monthly floating adjustable dividend for any particular month will continue to be calculated using the Designated Percentage for such month representing the sum of an adjustment factor (based on the market price of the series AE preferred shares in the preceding month) and the Designated Percentage for the preceding month. The series AF preferred shares will pay on a quarterly basis, for the five-year period beginning on February 1, 2010, as and when declared by the Board of Directors of BCE, a fixed dividend based on an annual dividend rate of 4.541%.
BCE is Canada's largest communications company, providing the most comprehensive and innovative suite of communication services to residential and business customers in Canada. Operating under the Bell and Bell Aliant brands, the Company's services include wireline and wireless voice and data services, digital television and information and communications technology (ICT) services. BCE shares are listed in Canada and the United States. For corporate information on BCE, please visit www.bce.ca. For Bell product and service information, please visit www.bell.ca.
SOURCE BCE INC.
For further information: For further information: Media inquiries: Claire Fiset, Bell Media Relations, (514) 870-4739, 1-877-391-2007, firstname.lastname@example.org; Investor inquiries: Thane Fotopoulos, BCE Investor Relations, (514) 870-4619, email@example.com