{"id":50681,"date":"2025-11-16T21:45:43","date_gmt":"2025-11-17T02:45:43","guid":{"rendered":"https:\/\/prefblog.com\/?p=50681"},"modified":"2025-11-21T20:36:47","modified_gmt":"2025-11-22T01:36:47","slug":"bce-pr-r-to-reset-to-4-733","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50681","title":{"rendered":"BCE.PR.R To Reset To 4.733%"},"content":{"rendered":"

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

<\/a><\/div>\n

BCE.PR.R is a FixedFloater that reset to 4.490%<\/a> in 2010 with no conversion to RatchetRate<\/a>. It reset to 4.13%<\/a> in 2015, and to 3.018%<\/a> effective 2020-12-1 with no conversion<\/a> to its potential RatchetRate counterpart, BCE.PR.Q<\/a>.<\/p>\n

Update, 2025-11-21<\/b>: As pointed out by Assiduous Reader skeptical111<\/i> in the comments, BCE has announced<\/a>:<\/p>\n

that none of its fixed rate Cumulative Redeemable First Preferred Shares, Series R (Series R Preferred Shares) will be converted into floating rate Cumulative Redeemable First Preferred Shares, Series Q (Series Q Preferred Shares) on December 1, 2025.<\/p>\n

On October 17, 2025, BCE notified holders of Series R Preferred Shares that they could elect to convert their shares into Series Q Preferred Shares subject to the terms and conditions attached to those shares. Only 6,025 of BCE’s 7,115,900 Series R Preferred Shares were tendered for conversion on December 1, 2025 into Series Q Preferred Shares. As this would result in there being less than one million Series Q Preferred Shares outstanding, no Series R Preferred Shares will, as per the terms and conditions attached to those shares, be converted on December 1, 2025 into Series Q Preferred Shares. Shareholders who had elected to convert their Series R Preferred Shares will be receiving, by December 1, 2025, share certificates representing the number of Series R Preferred Shares tendered for conversion.<\/p>\n

The Series R Preferred Shares will continue to be listed on the Toronto Stock Exchange under the symbol BCE.PR.R. The Series R Preferred Shares will pay on a quarterly basis, for the five-year period beginning on December 1, 2025, as and when declared by the Board of Directors of BCE, a fixed cash dividend based on an annual dividend rate of 4.733%.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

BCE Inc. has announced: BCE.PR.R is a FixedFloater that reset to 4.490% in 2010 with no conversion to RatchetRate. It reset to 4.13% in 2015, and to 3.018% effective 2020-12-1 with no conversion to its …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-50681","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50681"}],"version-history":[{"count":3,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50681\/revisions"}],"predecessor-version":[{"id":50850,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50681\/revisions\/50850"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}