BCE converts preferred shares
BCE Inc. announced that all of its floating-rate Series AJ preferred shares will be converted into fixed-rate Series AI preferred shares on August 4, 2026.
Canadian telecommunications company BCE Inc. announced on July 22, 2026, that all of its floating-rate Cumulative Redeemable First Preferred Shares, Series AJ, will be converted into fixed-rate Cumulative Redeemable First Preferred Shares, Series AI, effective August 4, 2026. The conversion will occur on a one-for-one basis.
Shareholders had the option to elect to convert their shares between series. The company stated that 1,875 Series AI preferred shares were tendered for conversion into Series AJ shares. Concurrently, 1,976,448 Series AJ preferred shares were tendered for conversion into Series AI preferred shares.
As a result, the number of outstanding Series AJ preferred shares would fall below two million. As per the terms attached to the shares, all remaining Series AJ preferred shares not tendered will be automatically converted into Series AI preferred shares on August 4, 2026. The Series AI preferred shares will pay a fixed annual dividend of 5.10%, distributed quarterly for a five-year period starting August 4, 2026.
BCE is Canada's largest communications company, offering advanced fiber and wireless networks, enterprise services, and digital media.