BCE announces redemption of Series AO Preferred Shares

Rhea-AI Summary

BCE Inc. announced the redemption of all outstanding Cumulative Redeemable First Preferred Shares, Series AO, effective March 31, 2022, at a price of $25.00 per share. The final quarterly dividend of $0.26625 per share will also be paid to shareholders of record by February 28, 2022. Following the redemption date, these shares will no longer accrue dividends, with holders entitled only to the redemption payment. Beneficial holders should contact their financial intermediaries regarding the redemption process.

Positive

• Announcement to redeem Series AO Preferred Shares may indicate financial prudence and shareholder return strategy.
• Final dividend declaration reflects ongoing commitment to providing shareholder returns.

Negative

• Redemption of shares may signal a restructuring or change in capital strategy, potentially affecting investor confidence.

MONTRÉAL, Feb. 24, 2022 /PRNewswire/ - BCE Inc. (BCE or the Corporation) announced today that it intends to redeem all of its outstanding Cumulative Redeemable First Preferred Shares, Series AO (the "Series AO Preferred Shares") on March 31, 2022 at a redemption price of $25.00 per Series AO Preferred Share, less any taxes required to be deducted and withheld by the Corporation.

On February 2, 2022, the board of directors of the Corporation declared a quarterly dividend of $0.26625 per Series AO Preferred Share. This will be the final dividend on the Series AO Preferred Shares and will be paid in the usual manner on March 31, 2022 to shareholders of record as of February 28, 2022.  After March 31, 2022, the Series AO Preferred Shares will cease to be entitled to dividends and the only remaining rights of holders of such shares will be to receive payment of the redemption amount.

A notice of the redemption of the Series AO Preferred Shares will be provided in accordance with the rights, privileges and conditions attached to the Series AO Preferred Shares. Beneficial holders of Series AO Preferred Shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds.

About BCE

BCE is Canada's largest communications company, providing advanced Bell broadband wireless, Internet, TV, media and business communications services. To learn more, please visit Bell.ca or BCE.ca.

Through Bell for Better, we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities with a commitment to the highest environmental, social and governance (ESG) standards. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.

Media inquiries:
Marie-Eve Francoeur
514-391-5263
marie-eve.francoeur@bell.ca 
@Bell_News

Investor inquiries:
Richard Bengian
514-786-8219
richard.bengian@bell.ca

View original content:https://www.prnewswire.com/news-releases/bce-announces-redemption-of-series-ao-preferred-shares-301489600.html

SOURCE Bell Canada

FAQ

When will BCE redeem Series AO Preferred Shares?

BCE will redeem all outstanding Series AO Preferred Shares on March 31, 2022.

What is the redemption price for BCE's Series AO Preferred Shares?

The redemption price for Series AO Preferred Shares is $25.00 per share.

What is the final dividend amount for BCE's Series AO Preferred Shares?

The final dividend for Series AO Preferred Shares is $0.26625 per share, payable on March 31, 2022.

Who will receive the final dividend for BCE's Series AO Preferred Shares?

Shareholders of record as of February 28, 2022, will receive the final dividend.