- Why invest in BCE?
- BCE at a glance
- Letter from Thomas O'Neill to shareholders
- Letter from George Cope to shareholders
- Responsible investment
Canada’s largest and leading communications company
- We are Canada’s largest communications company, offering a breadth and scope of products and services that is not easily replicated by any other large telecommunications company in North America.
- We have a long and successful track record as Canada’s leading communications services provider and our assets are critical to the nation’s communications infrastructure.
- We are the market leader in Internet and TV, and one of the largest wireless operators in Canada.
Consistent and sustainable dividend growth
- We’ve set a dividend payout policy between 65% and 75% of Free Cash Flow. We believe this policy will allow us to grow our common dividends for our shareholders, while allowing us to continue investing appropriately in the future of the business and maintaining an appropriate level of balance sheet liquidity.
- In line with our dividend growth model, we’ve increased our annual common share dividend by 87% since the fourth quarter of 2008, now at $2.73 per share, highlighting BCE’s sound financial position.
- BCE is one of the top dividend yield stocks in Canada with an approximate 4.8% dividend yield.
- BCE is one of the most widely held stocks in Canada, with listings on the TSX and NYSE.
Incumbent service provider with stable financial profile
We are the largest local exchange carrier in Canada. Our market leadership position represents the foundation for the other products and services we offer, providing us with a significant number of established customer connections that we can leverage to drive uptake of new products and services, either through bundled offerings or on a stand-alone basis, and to improve customer retention.
Bell ranked #3 overall in Brand Finance’s Top 100 for 2015 in the annual rankings of Canada’s most valuable brands, challenging the country’s biggest banks as the only company in the top 5 from outside the financial services sector(1). Bell’s brand value has been one of the fastest growing too, increasing by 38% to $7.63 billion since the first rankings in 2013.
Bell was also the only Canadian company to earn a AAA brand rating from Brand Finance, which factors in brand strength, risk and potential relative to competitors. A brand’s value reflects a company’s reputation and loyalty from customers, employees and investors, as well as future revenues attributable to the brand’s strength.
- The combination of our leadership across products, incumbent position in our core markets and the superior value and recognition of our brand provide us with attractive market positioning for both consumer and business markets.
Significant opportunities for operating and cost saving improvements
We continue to seek opportunities to realize significant cost savings. While we have been proficient at taking costs out of the business over the past several years, we believe that Bell’s annual expense base provides us with ample opportunities to substantially improve the level of efficiency across many of our businesses.
Strong and stable free cash flow generation
We have established a track record of strong and stable free cash flow generation supported by our industry-leading market positions in many lines of business, a unique and diverse asset base, broad suite of utility-like product offerings and substantial scale.
Strong capital structure
BCE has a strong, investment-grade credit profile with access to the capital we need to grow our business and the strong cash flow that allows us to self-fund our debt obligations at the same time.
Experienced and proven leadership team
We have an experienced, highly regarded and dedicated management team averaging more than 20 years' experience with a track record of success. Our best-in-class leadership team, which has re-energized our legacy wireline voice business and shifted our focus increasingly to growth services, has allowed us to build positive momentum in our wireless business.
(1) The Top 100 Brands are compiled by global brand valuation firm Brand Finance in partnership with The Globe and Mail’s Report on Business magazine