BCE raises quarterly dividend amid new subscribers, higher operating revenue
Posted February 3, 2022 7:58 am.
Last Updated February 3, 2022 8:03 am.
MONTREAL — BCE Inc. raised its dividend as it reported its fourth-quarter profit slid compared with a year ago when the company’s earnings were boosted by the sale of Bell data centres to Equinix.
The company says it will pay a quarterly dividend of 92 cents per common share, up from 87.5 cents per share.
The higher payment to shareholders came as BCE reported a profit of $625 million attributable to common shareholders or 69 cents per share.
That compared with a profit attributable to common shareholders of $889 million or 98 cents per share in the fourth quarter of 2020.
Operating revenue totalled $6.21 billion, down from $6.10 billion.
Mirko Bibic, president and CEO of BCE Inc. and Bell Canada, says the company reported its best annual retail residential net subscriber performance in 10 years.
On an adjusted basis, BCE says it earned 76 cents per share for the quarter, down from an adjusted profit of 81 cents per share a year earlier.
Analysts on average had expected an adjusted profit of 73 cents per share, according to financial data firm Refinitiv.
This report by The Canadian Press was first published Feb. 3, 2022.
Companies in this story: (TSX:BCE)
The Canadian Press
