Updating our Conservative stocks

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BCE INC. $35 has delayed declaring its second-quarter dividend of $0.365 a share. The company is currently appealing a ruling by the Quebec Court of Appeal in favour of BCE’s bondholders that could threaten the company’s $42.75-a-share privatization plan. The case will go to the Supreme Court of Canada on June 17, 2008. Delaying the dividend gives BCE more financial flexibility to negotiate a possible settlement with its bondholders. If it can’t reach a deal, BCE will probably pay the dividend in mid-July. Buy. MOLSON COORS CANADA INC. $57 has won U.S. regulatory approval for its joint venture with rival brewer SABMiller plc. Called MillerCoors, this new company will own Molson Coors’ and Miller’s operations in the United States and Puerto Rico. Molson Coors will own 42% of the new company. The merger will cut operating and distribution costs, and help both companies compete with U.S. market leader Anheuser-Busch. Buy. THOMSON REUTERS CORP. $35 now trades under the symbol “TRI”. It plans…