BCE growth supports its high yield

Article Excerpt

BCE continues to attract new wireless, high-speed Internet and TV customers. That has more than offset the steady decline in traditional telephone customers. The company’s upcoming $3.9 billion acquisition of Manitoba Telecom will further expand its wireless business as well as its geographic reach and earnings. BCE INC. $59.87 (Toronto symbol BCE; Shares outstanding: 869.5 million; Market cap: $52.1 billion; TSINetwork Rating: Above Average; Dividend yield: 4.6%; www.bce.ca) is Canada’s largest telephone service provider, with 6.5 million customers in Ontario, Quebec and the Atlantic provinces. It also has 3.4 million high-speed Internet users, 2.75 million TV subscribers and 8.3 million cellphone subscribers. In the three months ended June 30, 2016, BCE’s earnings per share rose 8.0%, to $0.95 from $0.87 a year earlier. Revenue increased 0.3%, to $5.34 billion from $5.33 billion. Revenue from wireless services (33% of the total) rose 2.2% as the company’s network upgrades continued to attract new subscribers. BCE also gained from the growing use of…

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