BCE Inc. Announces Renewal of Preferred Shares Buyback Program
BCE Inc. Announces Renewal of Preferred Shares Buyback Program
BCE Inc., a prominent player in Canada's communications sector, recently made a significant announcement regarding its investment strategy. On November 6, 2025, the company revealed that it had received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB) aimed at repurchasing up to 10% of its public float of each series of outstanding first preferred shares listed on the TSX.
The renewed NCIB is set to run from November 11, 2025, to November 10, 2026, with a possibility for an earlier end if the company completes its repurchases sooner. BCE plans to acquire these preferred shares at the prevailing market prices during the acquisition period, along with any brokerage fees incurred. Once repurchased, these shares will be canceled, effectively reducing the total number of shares outstanding.
The Rationale Behind the Repurchase
BCE has indicated that the decision to initiate this NCIB stems from the belief that certain series of preferred shares are trading at values that do not adequately represent their true worth. In such cases, the buyback of shares offers an effective means to utilize the company's available capital, signaling confidence in the underlying value of its shares to investors.
Purchase Mechanics
Under the terms of the NCIB, BCE has the discretion to regulate the volume and timing of its repurchases, constrained by specific limitations outlined in the TSX Company Manual. These transactions will include discretionary purchases and will also involve an automatic securities purchase plan (ASPP) to facilitate efficient buyback during specific timeframes when traditional trading may be restricted, such as regulatory blackouts.
The scope of the repurchase encompasses various series of BCE’s preferred shares, with each series having a defined maximum number designated for repurchase based on the average daily trading volumes observed in recent months. For instance, BCE plans to repurchase series such as BCE.PR.R, BCE.PR.S, BCE.PR.T, and others within set limits to ensure an orderly and effective buyback process.
Detailed Repurchase Plan
| Series | Ticker | Issued Shares | Public Float | Average Daily Trading Volume | Max Number to Purchase |
|---|---|---|---|---|---|
| - | - | -- | -- | ------ | ------- |
| R | BCE.PR.R | 7,115,900 | 7,115,900 | 6,198 | 711,590 |
| S | BCE.PR.S | 1,882,077 | 1,882,077 | 2,435 | 188,207 |
| T | BCE.PR.T | 5,062,433 | 5,062,433 | 5,105 | 506,243 |
| Y | BCE.PR.Y | 5,406,887 | 5,406,887 | 7,255 | 540,688 |
| Z | BCE.PR.Z | 2,399,248 | 2,399,248 | 1,483 | 239,924 |
The NCIB’s specifics allow the company to structure its buybacks flexibly, which can be pivotal in responding to market conditions and investor sentiment.
About BCE
BCE Inc. stands as Canada’s largest communications entity, facilitating seamless connectivity through extensive fibre and wireless networks, alongside robust enterprise services and digital media offerings. As it adopts advanced technologies that intertwine AI and cloud-driven solutions, BCE endeavors to maintain a competitive edge within the market, continually evolving to meet customer needs and business challenges.
For additional information regarding BCE and its strategic investments, please visit Bell.ca or BCE.ca. By leveraging new technology, BCE remains committed to ensuring its customers are equipped with the tools they need for modern connectivity and success.
Topics Financial Services & Investing）
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