BCE reports fourth-quarter profit down from year earlier, raises dividend

BCE Co., Ltd. BCE-T reported lower fourth-quarter earnings compared to a year ago and said in its 2023 outlook it expects full-year adjusted earnings per share to decline compared to 2022. .

However, the company increased its quarterly dividend from 92 cents to 96.75 cents per share.

Fourth-quarter net income attributable to common shareholders was $528 million, or 58 cents per diluted share, compared with $625 million, or 69 cents per diluted share, in the year-ago quarter, according to BCE. ).

Total operating revenues were $6.44 billion, up from $6.21 billion in the fourth quarter of 2021.

On an adjusted basis, BCE reported earnings of 71 cents per share in the latest quarter, down from 76 cents per share in the same period last year.

In its 2023 outlook, BCE expects lower tax adjustments, higher depreciation and higher interest costs, resulting in annual adjusted earnings per share of 3-3% compared to 2022. He said he expected a 7% decline. Revenue growth in 2023 is expected to be between 1-5%.