{"id":20270,"date":"2012-11-14T13:14:36","date_gmt":"2012-11-14T17:14:36","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20270"},"modified":"2012-11-14T13:14:36","modified_gmt":"2012-11-14T17:14:36","slug":"bce-pr-z-to-reset-to-3-152","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20270","title":{"rendered":"BCE.PR.Z To Reset To 3.152%"},"content":{"rendered":"

BCE Inc. has announced<\/a>:<\/p>\n

BCE Inc. will, on December 1, 2012, continue to have Cumulative Redeemable First Preferred Shares, Series Z (\u201cSeries Z Preferred Shares\u201d) outstanding if, following the end of the conversion period on November 19, 2012, BCE Inc. determines that at least one million Series Z Preferred Shares would remain outstanding. In such a case, as of December 1, 2012, the Series Z Preferred Shares will pay, on a quarterly basis, as and when declared by the Board of Directors of BCE Inc., a fixed cash dividend for the following five years that will be based on a fixed rate equal to the product of: (a) the average of the yields to maturity compounded semi-annually, determined on November 13, 2012 by two investment dealers selected by BCE Inc., that would be carried by non-callable Government of Canada bonds with a 5-year maturity (the \u201cGovernment of Canada Yield\u201d), multiplied by (b) a percentage rate determined by BCE Inc. (the \u201cSelected Percentage Rate\u201d) for such period.<\/p>\n

The \u201cSelected Percentage Rate\u201d determined by BCE Inc. for such period is 243%. The \u201cGovernment of Canada Yield\u201d is 1.297%. Accordingly, the annual dividend rate applicable to the Series Z Preferred Shares for the period of five years beginning on December 1, 2012 will be 3.152%.<\/p><\/blockquote>\n

The company has previously published<\/p>\n