BCE announced that 397,181 of its 5,069,935 fixed-rate Cumulative Redeemable First Preferred Shares, Series AC have been tendered for conversion on March 1, 2018, on a one-for-one basis, into floating-rate Cumulative Redeemable First Preferred Shares, Series AD. In addition, 5,356,937 of its 14,930,065 Series AD Preferred Shares have been tendered for conversion on March 1, 2018, on a one-for-one basis, into Series AC Preferred Shares. Consequently, on March 1, 2018, BCE will have 10,029,691 Series AC Preferred Shares and 9,970,309 Series AD Preferred Shares issued and outstanding. The Series AC Preferred Shares and the Series AD Preferred Shares will continue to be listed on the Toronto Stock Exchange under the symbols BCE.PR.C and BCE.PR.D, respectively. The Series AC Preferred Shares will pay on a quarterly basis, for the 5-year period beginning on March 1, 2018, as and when declared by the Board of Directors of BCE, a fixed cash dividend based on an annual fixed dividend rate of 4.38%. The Series AD Preferred Shares will continue to pay a monthly floating adjustable cash dividend for the 5-year period beginning on March 1, 2018, 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 based on the prime rate for such month and using the Designated Percentage for such month representing the sum of an adjustment factor and the Designated Percentage for the preceding month.
