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BCE Preferred Shares Conversion Update

On October 19, 2026, BCE Inc. (TSX: BCE, NYSE: BCE) made a noteworthy announcement regarding the conversion of its preferred shares, specifically the Series T and Series S. As part of this update, BCE disclosed that a total of 400 out of 4,798,333 Series T preferred shares have been set for conversion into Series S preferred shares on November 2, 2026. This conversion will occur on a one-for-one basis, allowing professional investors and stakeholders to shift from fixed-rate shares to a more flexible dividend structure.

In addition to the Series T conversions, BCE reported that 676,765 Series S preferred shares will be converted back into Series T shares on the same date. Following these transitions, BCE will maintain a total of 5,474,698 Series T preferred shares and 1,190,512 Series S preferred shares in circulation. Both types of shares will continue trading on the Toronto Stock Exchange under their respective symbols: BCE.PR.T for Series T shares and BCE.PR.S for Series S shares.

Dividend Payment Structures

BCE has established distinct dividend payment structures for these two classes of preferred shares going forward. For the Series T preferred shares, a fixed annual dividend rate of 5.523% will be disbursed on a quarterly basis. This guarantees a consistent payout schedule over the next five years, beginning on November 2, 2026, subject to declarations by BCE’s Board of Directors.

Conversely, the Series S preferred shares will operate on a floating-rate dividend model. This means their monthly cash dividends will be adjusted based on the prime rate each month, utilizing a designated percentage that reflects market conditions from the previous month. This adjustable structure makes the Series S shares ideal for investors looking to align their dividends with market trends, offering potentially higher returns in a robust economic environment.

BCE's Position in the Market

With this strategic shift in preferred shares, BCE continues to embody its role as Canada’s largest communications company, fostering advanced fiber and wireless networks. The company emphasizes its commitment to delivering cutting-edge technology, which integrates cloud-based and AI-driven solutions. By doing so, BCE seeks to maintain its leadership in the communications sector, ensuring customers remain connected and informed while enabling businesses to thrive on a global platform.

As a key player in the telecommunications industry, BCE remains focused on generating total revenue and expanding its customer base through innovative services. The firm positions itself not only as a provider of traditional communication services but also as a modern tech solution leader that adapts to the changing demands of the market.

In closing, BCE’s recent announcements regarding its Series T and Series S preferred shares signal crucial developments for investors and stakeholders. By providing clear directions on dividends and share conversions, BCE is taking significant steps to enhance shareholder value and ensure the company's adaptability in an evolving economic landscape. For further information, investors are encouraged to visit BCE’s official corporate sites: Bell.ca and BCE.ca.