BCE reports fourth-quarter profit up, raises quarterly dividend
BCE Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago, boosted by the sale of Bell data centres to Equinix.
The company says it will pay a quarterly dividend of 87.5 cents per share, up from 83.25 cents per share.
The increased payment to shareholders came as BCE reported a profit of $889 million attributable to common shareholders or 98 cents per share.
That compared with a profit attributable to common shareholders of $672 million or 74 cents per share in the fourth quarter of 2019.
Operating revenue totalled $6.10 billion, down from $6.28 billion.
On an adjusted basis, BCE says it earned 81 cents per share for the quarter, down from an adjusted profit of 86 cents per share a year earlier. Analysts on average had expected an adjusted profit of 76 cents per share, according to financial data firm Refinitiv.
-- this report by The Canadian Press was first published Feb. 4, 2021.