Updating BCE Inc., Emera Inc., and Torstar Corp.

Article Excerpt

BCE INC. $30 (Toronto symbol BCE) has completed the sale of its Telesat satellite business for $3.25 billion, or 13.5% of its market cap of $24 billion. The company will use $1.2 billion of that to buy back 5% of its stock. It will probably use the rest to expand its high-speed Internet service, or make acquisitions. It may also increase its $1.46 dividend (4.9% yield). Best Buy. EMERA INC. $21 (Toronto symbol EMA) has acquired a 19% stake in the main electrical utility on the Caribbean island of St. Lucia for $22 million U.S. That’s roughly a third more than the $19.5 million or $0.18 a share it earned in the third quarter of 2006. This is the company’s first investment in this region, but it cuts its reliance on Atlantic Canada. Best Buy. TORSTAR CORP. $19 (Toronto symbol TS.B) recently launched Olive Canada Network, a new service that makes it easier for advertisers to place ads on Torstar’s own web…

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