BCE to Convert All Series AN Preferred Shares Into Fixed-Rate Series AM Shares

BCE ( (TSE:BCE) ) has issued an update.

BCE Inc. will convert all of its floating-rate Cumulative Redeemable First Preferred Shares, Series AN, into fixed-rate Series AM Preferred Shares on March 31, 2026, following a shareholder conversion process that left fewer than 1,000,000 Series AN shares outstanding. As a result, Series AM Preferred Shares will remain the sole series in this class, paying a fixed annual dividend rate of 4.837% on a quarterly basis for the five-year period starting March 31, 2026, and will continue trading on the Toronto Stock Exchange under the symbol BCE.PR.M.

The automatic consolidation of BCE’s preferred share structure into the fixed-rate Series AM shares simplifies its capital structure and locks in predictable dividend obligations for the next five years. This move reduces exposure to floating-rate funding costs, providing greater visibility on preferred share dividends for the company and its investors and potentially enhancing the attractiveness of the Series AM issue for income-focused shareholders.

The most recent analyst rating on (TSE:BCE) stock is a Hold with a C$35.00 price target. To see the full list of analyst forecasts on BCE stock, see the TSE:BCE Stock Forecast page.

Spark’s Take on BCE Stock

According to Spark, TipRanks’ AI Analyst, BCE is a Neutral.

The score is anchored by a mixed financial profile—durable operating cash flow but meaningful leverage and a weakening recent free-cash-flow trend. Technicals are supportive with price above key moving averages and positive MACD, and valuation is a clear positive with a low P/E and high dividend yield.

To see Spark’s full report on BCE stock, click here.

More about BCE

BCE Inc., traded on the TSX and NYSE under the symbol BCE, is Canada’s largest communications company, providing advanced fibre and wireless networks, enterprise services and digital media to consumers and businesses. The company focuses on next-generation technology, including cloud-based and AI-driven solutions, to keep customers connected and enable Canadian enterprises to compete globally.

Average Trading Volume: 3,735,816

Technical Sentiment Signal: Buy

Current Market Cap: C$33.03B

See more insights into BCE stock on TipRanks’ Stock Analysis page.