As of last close, BCE.PRC was trading at a 13.20% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of Holders of Series AC Preferred Shares will, subject to the automatic conversion provisions, have the right to convert, on Mar. 1, 2013 and on March 1 every five years thereafter, their shares into an equal number of Series AD Preferred Shares upon giving to BCE Inc. notice thereof as per the terms and conditions of the conversion. Following the close of business on last day for tendering the shares for conversion by holders of Series AC Preferred Shares and Series AD Preferred Shares, if BCE Inc. determines that there would be outstanding on such Series AC Conversion Date less than 2,500,000 Series AC Preferred Shares, such remaining number of Series AC Preferred Shares shall automatically be converted into an equal number of Series AD Preferred Shares. Additionally, if BCE Inc. determines at such time that there would be outstanding on such Series AC Conversion Date less than 2,500,000 Series AD Preferred Shares then, no Series AC Preferred Shares shall be converted into Series AD Preferred Shares.. The chart below shows the one year performance of BCE.PRC shares, versus BCE:
Below is a dividend history chart for BCE.PRC, showing historical dividends prior to the most recent $0.3175 on BCE Inc's Cumulative Redeemable First Preferred Shares, Series AC:
In Thursday trading, BCE Inc's Cumulative Redeemable First Preferred Shares, Series AC (TSX: BCE-PRC.TO) is currently up about 0.1% on the day, while the common shares (TSX: BCE.TO) are down about 3.2%.
Further BCE.PRC.CA Research:
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