BCE Inc. has released the conversion notice for BCE.PR.A and a matching notice for BCE.PR.B.
These issues constitute a Strong Pair.
The effective date of the interconversion is 2017-9-1. The deadline for instructing the company to convert shares is 2017-8-22 – but note that brokers serving the public will probably have internal deadlines a day or two in advance of this. The new dividend rate on BCE.PR.A will be published 2017-8-9.
At the last conversion opportunity in 2012 there was minimal net conversion and the shares outstanding were split almost evenly between BCE.PR.A and BCE.PR.B. The outstanding shares of BCE.PR.A have paid 3.45% since then. Prime was at 3.00% when the last conversion was effective … just 5bp higher than the current rate!
These shares are trading at very nearly the same price … alas, there isn’t much of an arbitrage possibility here!
This entry was posted on Wednesday, July 26th, 2017 at 1:09 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BCE.PR.A / BCE.PR.B Conversion Notice Sent
BCE Inc. has released the conversion notice for BCE.PR.A and a matching notice for BCE.PR.B.
These issues constitute a Strong Pair.
The effective date of the interconversion is 2017-9-1. The deadline for instructing the company to convert shares is 2017-8-22 – but note that brokers serving the public will probably have internal deadlines a day or two in advance of this. The new dividend rate on BCE.PR.A will be published 2017-8-9.
At the last conversion opportunity in 2012 there was minimal net conversion and the shares outstanding were split almost evenly between BCE.PR.A and BCE.PR.B. The outstanding shares of BCE.PR.A have paid 3.45% since then. Prime was at 3.00% when the last conversion was effective … just 5bp higher than the current rate!
These shares are trading at very nearly the same price … alas, there isn’t much of an arbitrage possibility here!
This entry was posted on Wednesday, July 26th, 2017 at 1:09 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.