BCE reports fourth-quarter profit up, raises quarterly dividend

BCE Inc. logo in Montreal, on May 6, 2010. (Graham Hughes / THE CANADIAN PRESS)

MONTREAL — 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.