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Shareholder-Info

Common share dividends 

Corporate transactions / plans of arrangement

Common Share Information

Accounting and Reporting Questions

General Information on the company

Shareholder Accounts

Preferred shares/bonds

Corporate Governance Questions

BCE Common Share Dividends   Top

What is BCE's Dividend Policy?  
As outlined in BCE's financial guidance for 2014, BCE has set a target of its dividend payout ratio of 65% - 75% of free cash flow (free cash flow before common share dividend and voluntary pension contributions, including Bell Aliant dividends).
 

What is BCE's current common dividend rate and what is the common dividend payment history?   
BCE's annual dividend is $2.47 per common share; the quarterly dividend rate is $0.6175 per common share. See our Dividend Dates page for the recent dividend record and payment dates and for historical dividend information see our Dividend History.

When was the last dividend increase announced?  
On February 6, 2014, we announced an increase of our annual common share dividend of $0.14, raising the annual dividend to $2.47 per share ($0.6175 per quarter). The first payment - April 15, 2014.

Are the dividends paid by BCE and Bell Canada "eligible" dividends?  
Since January 1, 2006 and unless stated otherwise, dividends paid by BCE and Bell Canada to Canadian residents are eligible dividends as per the Canadian Income Tax Act. Since March 24, 2006 and unless stated otherwise, dividends paid by BCE and Bell Canada to Quebec residents are eligible dividends as per the proposed changes announced during the March 23, 2006 provincial Budget speech.

What is the Canadian withholding tax rate for foreign investors?  
Dividends on BCE shares paid or credited to non-residents of Canada are subject to withholding tax of 25%, unless reduced by treaty. Under current tax treaties, the non-resident withholding tax rate for United States and United Kingdom residents is 15%.

Does BCE have a Dividend Reinvestment Plan and if so, how do I enroll?  
Yes. To enroll in BCE's Dividend Reinvestment and Stock Purchase Plan (DRP), you must have at least one BCE common share registered in your name. For more information, see our Dividend Reinvestment Plan section. To enroll, contact the transfer agent, CST Trust Company, and request an enrollment package.

I have not received a dividend payment, who should I contact?  
If you do not have the physical stock certificate(s) for your BCE shares, you are a non-registered shareholder and should contact the brokerage firm at which you have your account to enquire about your dividend payment.

If you are a registered shareholder, please contact our transfer agent.

How do I have dividends deposited directly into my account at a financial institution?
 
If you currently receive dividend cheques by mail, you can have your dividends deposited directly to your bank account.

Please contact our Transfer Agent and Register to obtain information about this service.

 

Corporate transactions / plans of arrangementTop

Nortel Distribution   

We have compiled the following questions and answers from questions frequently asked to BCE’s Investor Relations department. You should also read the Notice of Application and Joint Arrangement Circular of BCE/Nortel (PDF 1,2 MB), regarding the transaction in the Annexes attached thereto and the documents incorporated therein by reference. Certain terms used below are defined in the Glossary of Terms in the Circular.

 

How do I determine the cost base of shares of BCE and new Nortel?Top

1) Determination of Cost Base of Shares of BCE & new Nortel
Canadian Shareholders:
As discussed in more detail in the Notice of Application and Joint Arrangement Circular of BCE/Nortel (PDF 1,2 MB), shareholders who held BCE common shares as capital property, for the purposes of the Income Tax Act, prior to the Arrangement must divide their adjusted cost base of BCE common shares between the common shares of BCE retained and the common shares of new Nortel received. BCE has determined that, in its view and that of its advisors, such a shareholder's adjusted cost base of BCE Common shares pre-arrangement should be allocated as follows:

  • BCE Common shares: 30.79 %
  • new Nortel common shares: 69.21%

It should be noted that the above allocation is not binding upon the Canada Customs and Revenue Agency.
See Tax Information to determine BCE and new Nortel cost base.

U.S. Shareholders:
Also as set out in the Notice of Application and Joint Arrangement Circular of BCE/Nortel (PDF 1,2 MB), for a BCE common shareholder that is a United States taxpayer, the receipt of new Nortel common shares as a result of the Plan of Arrangement will be a taxable distribution for United States federal income tax purposes. The distribution will result in a taxable dividend equal to the fair market value -- on May 1, 2000, the effective date of the Arrangement -- of the new Nortel common shares. The tax basis to the holder of new Nortel common shares will also equal that fair market value. Although United States tax laws do not prescribe any specific method for determining fair market value, it is understood that, for U.S. federal income tax purposes, an acceptable method, for determining the fair market value of the new Nortel common shares on the effective date of the Arrangement, is the average of the high and low quoted prices for the new Nortel common shares on the New York Stock Exchange on that effective date. Based on the New York Stock Exchange information, the high and low on that date were US$120.3125 and US$114.50 per share, respectively, before taking into account the new Nortel Networks stock split. No change should be made to the holder's tax basis in his/her BCE common shares. It should be noted that the above discussion is not binding upon the United States Internal Revenue Service and shareholders (including shareholders who seek to utilize a date other than the effective date of the Arrangement or who have special facts) are urged to consult their own tax advisors.

2) Proceeds of Disposal on Fractional Shares
The disposition of fractional shares is generally subject to capital gains treatment.
Shareholders are advised to consult their tax advisors.
See Tax Information to determine proceeds of disposal of fractional shares.

 

What is the tax impact of the Arrangement?  
A Canadian resident who holds BCE common shares as capital property will realize neither a capital gain nor a capital loss on the distribution. Normal capital gain tax treatment would apply on the sale of the distributed shares or on the cash received with respect to the fractional share allocated to the holder.

For a BCE common shareholder who is a United States taxpayer, the receipt of Nortel common shares as a result of the Plan of Arrangement was a taxable distribution for U.S. federal income tax purposes. This distribution resulted in a taxable dividend equal to the fair market value -- on May 1, 2000, the effective date of the Arrangement -- of the Nortel common shares.

Shareholders are advised to consult their tax advisors. See Tax Information for more on the tax implications of the Nortel distribution.

Why was this Arrangement (BCE's proposal to distribute Nortel shares) proposed?  
The most important reason why BCE proposed this Nortel distribution was to improve the valuation of its non-Nortel assets.

When was the Arrangement approved?  
The Arrangement was approved by BCE shareholders on April 26, 2000 and Nortel shareholder on April 27, 2000. BCE received the last required regulatory approval on April 28. The Arrangement became effective on May 1, 2000.

 
When was the cut off date for buying BCE common shares and benefiting from the distribution of new Nortel shares on the Toronto Stock Exchange?

The record date was May 5, 2000. Any shares bought through a broker on or before May 2 (it took three business days to settle a transaction) were part of the distribution. Conversely, if you sold BCE shares on or before May 2, you were not eligible to receive the new Nortel shares.

 
When was the cut off date for buying BCE common shares and benefiting from the distribution of new Nortel shares on the New York Stock Exchange?

Any BCE common shares bought the "regular way" through a broker - stock symbol BCE - on or before May 8, entitled the holder to receive new Nortel common shares. Conversely, if you sold BCE common shares before May 1, you were not eligible to receive the new Nortel shares.

Trading and settlement rules on the New York Stock Exchange are a complex issue. BCE recommends that U.S. shareholders verify with their financial advisers or brokers if they were entitled to receive the new Nortel common shares.

Were all BCE shares eligible to receive the new Nortel shares?
 
Yes, all registered shares, as well as shares held in brokerage accounts, RRSP accounts and BCE Dividend Reinvestment Plans (DRP) entitled holders to receive new Nortel shares.  

How did the Nortel 2-for-1 stock split affect shareholders?  
Following Nortel's 2-for-1 stock split of May 5, 2000, the final distribution ratio of .785193 became 1.570386. Shareholders received 1.570386 new Nortel shares for each BCE share they held on May 5.

 
How was the number 0.785193 (1.570386 after the Nortel stock split of May 5, 2000) of a new Nortel common share derived by BCE?

BCE used the number of Nortel common shares owned by BCE (approximately 539,854,492) less the number of Nortel common shares not being distributed by BCE (approximately 30,000,000) divided by the number of BCE common shares outstanding on April 30, 2000 (this number was adjusted for the future issuance of BCE shares pursuant to existing stock options, approximately 649,346,593).

 

What did BCE common shareholders need to do to receive new Nortel common shares?  
Shareholders did not need to physically hold a share certificate to benefit from the new Nortel distribution and shareholders were not required to send their share certificates to the transfer agent.

Old certificates should be retained since they will continue to represent the same number of BCE common shares after the Arrangement. BCE registered shareholders of record at the close of business on the record date were entitled to receive certificates representing new Nortel common shares. For BCE common shares held in accounts at a brokerage firm, the new Nortel shares were deposited in those accounts. Registered shareholders who did not receive their certificates should contact our Transfer Agent and Register.

What happened if a BCE common shareholder was entitled to receive a fractional share?  
Fractional new Nortel shares were not distributed, but aggregated and sold on the market. The proceeds were distributed to shareholders, in the form of a cheque based on their fractional entitlements, and are subject to regular capital gains tax treatment.

For example, a shareholder entitled to receive 100.7 new Nortel shares should have received a certificate for 100 new Nortel shares and a cheque representing 0.7 x the market price of new Nortel shares.

For registered shareholders, the mailing of the cheques began approximately on May 15, 2000. For shares held in brokerage accounts, the proceeds were credited directly into the accounts.

What was the impact of the distribution on the market price of BCE common shares?  
BCE common shares began trading ex-Nortel on the Toronto Stock Exchange on May 3, 2000 and on the New York Stock Exchange on May 9. These were the first days for shareholders to buy BCE common shares without Nortel.

BCE expected the market price of BCE common shares to be reduced as soon as ex-Nortel trading began in order to reflect the value of the distribution to BCE common shareholders of a direct interest in new Nortel.

On May 3, 2000, BCE common shares began trading at CDN $42.50 on the Toronto Stock Exchange, representing the value of BCE without Nortel. On May 9, BCE share price began trading at US $26.125 on the New York Stock Exchange (excluding Nortel).

How do I obtain a copy of the Joint Arrangement Circular?  
Simply click on the link below to download the Joint Arrangement Circular.

Notice of Application and Joint Arrangement Circular of BCE/Nortel (PDF 1.1 MB)

Teleglobe acquisition   
The following questions and answers have been compiled from questions frequently asked of BCE’s Investor Relations department. You should also read the Teleglobe Management Information Circular (PDF 3,1 MB), regarding the transaction in the Annexes attached thereto and the documents incorporated therein by reference. Certain terms used below are defined in the Glossary of Terms in the Circular.

When did the rights to exchange Teleglobe shares in BCE common shares expire?  
November 1, 2003, at 12:00 am. See section 4.5 in the circular (PDF 3,1 MB).

What did Former Teleglobe Shareholders have to do to receive BCE common share certificates?  
A blue Letter of Transmittal was mailed to Former Teleglobe Shareholders, together with the Circular (PDF 3,1 MB) relating to the transaction. To receive BCE common shares, you needed to complete and return the blue Letter of Transmittal, together with the certificate (s) for your Teleglobe Common shares in the envelope enclosed with the Circular relating to the transaction, specifying the whole number of Teleglobe Common shares that you desired to have exchanged for either the Share Elected Consideration or the Cash Elected Consideration. Former Teleglobe Shareholders who did not return a duly completed Letter of Transmittal by the Election Date were deemed to have made the Share Election. Former Teleglobe shareholders whose shares were held in the name of their broker or other nominee should contact their broker or other nominee for any questions regarding the above.

What should have I received if I made (or were deemed to have made) the Share Election?  
Former Teleglobe Shareholders whose shares were held in the name of their broker or other nominee should contact their broker or other nominee for any questions regarding the following. The following table illustrates the consideration received by a former holder of 100 Teleglobe Common shares who made (or was deemed to make) the Share Election. The "BCE WATP" (see explanation below) equals Cdn $35.71.

BCE WATP (in Cdn$)Number of Whole BCE Common Shares (per 100 Teleglobe shares)Value of BCE Common shares (in Cdn$)Total Cash to be received in fractional sharesValue of total Consideration
$35.7190.723,239.61$35.71$3,274.61

 

What would have I received if I had made the Cash Election?  
If you made the cash election within the duly prescribed period, the following table illustrates the consideration received by a former holder of 100 Teleglobe Common shares who made the Cash Election for the Maximum Consideration and would therefore receive 20% of the consideration in cash.

BCE WATP (in Cdn$)Number of Whole BCE CommonValue of BCE Common shares (in Cdn$)Total CashValue of total Consideration
$35.71722,571.12$678.49$3,249.61

 

Former Teleglobe Shareholders who did not make a valid Cash Election will be deemed to have made the Share Election. Former Teleglobe Shareholders who made a valid Cash Election but who did not specify the Elected Cash Amount were deemed to have elected an Elected Cash Amount equal to the Maximum Cash consideration and accordingly received cash consideration for each Teleglobe Common Share equal to Cdn $0.10 plus the Maximum Cash Consideration.

What is the "BCE WATP"?  
The "BCE WATP" or Weighted Averaged Trading Price, is the designated value of the BCE Common shares used to determine the consideration payable to Former Teleglobe Shareholders under the Arrangement. It is the weighted average trading price of the BCE Common shares on the TSE for the ten trading days ending on the fifth Business Day immediately preceding the Effective Date, rounded to the nearest cent. The WATP was declared by a press release issued by BCE on October 26, 2000 as $35.71 (calculated on the basis of ten trading days commencing on October 12, 2000 and ending October 25, 2000).

In what currency was the Elected Cash Amount paid?  
The Elected Cash Amount was calculated in Canadian dollars and was paid in Canadian dollars, unless the U.S. Dollar election was made. Former Teleglobe Shareholders who made the U.S. Dollar election in the Letter of Transmittal were entitled to receive the Elected Cash Amount (as well as other cash payments to which they were entitled) in U.S. dollars from BCE in an amount calculated as the U.S. dollar equivalent of the comparable Canadian dollar amount.

What was the Canadian tax impact on the Arrangement for residents of Canada?  
Whether you made a Share Election or Cash Election, the disposition of Teleglobe Common shares by a Former Teleglobe Shareholder to BCE pursuant to the Arrangement was a taxable disposition giving rise to a capital gain (or capital loss) to the extent that the sum of the cash and the fair market value of the BCE Common shares received by the Former Teleglobe Shareholder on the Effective Date of the Arrangement exceeds (or is exceeded by) the adjusted cost base of the Teleglobe Common shares to the Teleglobe Shareholder and any reasonable costs of disposition.

Former Taxable Shareholders were eligible (depending upon the former holder's particular circumstances) to obtain a full or partial tax-deferred rollover for Canadian income tax purposes by entering into a Joint Tax Election with BCE and filing it with the appropriate tax authorities. A Taxable Shareholder who wished to take advantage of the rollover treatment must have, in the Letter of Transmittal, certified that the holder is a taxable shareholder, and must have ensured that BCE, through the Depositary, received a duly completed Tax Election Filing Package by no later than January 15, 2001.

What was the Canadian tax impact of the Arrangement for non-residents of Canada?  
Former Teleglobe Shareholders who are non-residents of Canada generally were not subject to Canadian tax in respect of any capital gain realized on the disposition of Teleglobe Common shares to BCE pursuant to the Arrangement.

What was the United States tax impact of the Arrangement?  
The Arrangement did not qualify as a tax-free reorganization for U.S, federal income tax purposes and therefore constituted a taxable transaction to U.S, Holders generally giving rise to a gain (or loss) to the extent that the sum of the cash and fair market value of the BCE Common shares received exceeds (or is exceeded by) the U.S. Holder's adjusted tax basis in the Teleglobe Common shares exchanged therefore. Any gain or loss recognized a capital gain or loss if the Teleglobe Common shares were held as a capital asset at the Effective Date. In the event that any recognized gain or loss was treated as a capital gain or loss, it will constitute a long-term capital gain or loss if the U.S. Holder has held the Teleglobe Common shares for more than one year at the Effective Date and was short-term capital gain or loss if the U.S. Holder has held the Teleglobe common shares for one year or less.

 
Are Former Teleglobe Shareholders who are currently BCE shareholders entitled to receive BCE dividends and participate in BCE's Dividend Reinvestment Plan?

As a shareholder of BCE, you will be entitled to participate in BCE's Shareholder Dividend Reinvestment Plan and Stock Purchase Plan (the "DRP") and reinvest dividends in BCE common shares. The DRP was established by BCE to enable eligible BCE Shareholders to acquire additional BCE Common shares through the reinvestment of cash dividends paid on BCE Common shares and the making of optional cash payments (not exceeding Cdn $20,000 in each twelve-month period ending October 15). No price discount is offered to participants in the DRP, although the DRP allows BCE shareholders to increase their investment in BCE common shares without brokerage costs.

For more information, please consult the Teleglobe Management Information Circular (PDF 3,1 MB).

 

Common Share Information Top

Where are BCE common shares traded?  
BCE common shares are traded on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) under the symbol BCE.

What is the CUSIP Number for BCE common shares?  
The CUSIP Number for BCE common shares is 05534 B 760.

Where can I buy and/or sell BCE common shares?  

  1. You can buy and sell BCE common shares through a stockbroker, bank, or through a financial institution that provides brokerage services.
  2. If you are a registered shareholder, you can buy shares through BCE's Dividend Reinvestment and Stock Purchase Plan (DRP). This allows eligible shareholders to buy common shares by reinvesting their dividends and by investing optional cash payments. More information about the DRP, including enrollment information, is available in our Dividend Reinvestment Plan section.

What is the recent price for BCE shares (where can I find the stock quotes)?  
We provide current and historical stock quotes on this Website. We also provide historical BCE share prices as well as historical monthly average BCE share prices since January 1949.

What is BCE's stock split history?  
BCE's common shares have split three times:

  1. October 4, 1948 on a 4 for 1 basis
  2. April 26, 1979 on a 3 for 1 basis
  3. May 14, 1997 on a 2 for 1 basis (Closing Price before / after: $68.05 / $34.55)

 

Accounting and Reporting Questions  Top

When is the next BCE earnings release?  
Click here for BCE’s next earnings release date. You will find upcoming investor events dates on the Calendar page

Does BCE expense stock options granted to employees?  
Yes we do. Effective January 1, 2002, we adopted new recommendations by the Canadian Institute of Chartered Accountants for expensing employee stock options. You will find more information about the impact of this change on our financial results in the Management's Discussion and Analysis section of our Quarterly reports.

Does BCE use “off-balance sheet” arrangements?  
Yes we do. These are disclosed and discussed in the Notes to the Consolidated Statements in our Quarterly and Annual reports. BCE’s Audit Committee assesses the use of off-balance sheet arrangements and complies with new Canadian Institute of Chartered Accountants guidelines which became effective in 2004.

Who are the company' auditors?  
Deloitte & Touche LLP.

Does your fiscal year run on a calendar year basis?  
Yes, our year-end is December 31.

 

General information on the Company  Top

How can I obtain a copy of BCE's Annual and Quarterly Reports?  
Online versions of our Annual Reports and Quarterly Reports are available on this Website. To request printed copies of the reports, send an email outlining the material you would like to receive to bce@am-p.com. Please include your mailing address in your message, this will help speed up delivery.

How can I obtain a copy of documents filed with the United States Securities and Exchange Commission (SEC)?  
Links to BCE’s filings with the CSA and the SEC are available on the SEDAR and EDGAR filing pages.

 

Shareholder accounts   

Who is BCE's transfer agent?  
CST Trust Company 
320 Bay St., 3rd Floor
Toronto, Ontario
M5H 4A6

Tel:
1 800 561-0934 (toll free in Canada and the U.S.)
(416) 360-7725

Fax:
1 888 249-6189 (toll free in Canada and the U.S.)
(416) 643-5501

Email: bce@canstockta.com

How can I change my address on my account?  
Contact our Transfer Agent and Registrar.

How do I transfer my shares or obtain information about my account?
 
Contact our Transfer Agent and Registrar.

How can I eliminate duplicate mailings of shareholder materials?  
BCE tries to reduce waste by eliminating duplicate mailings. You may be receiving multiple copies of shareholder materials for a variety of reasons. If you are dealing with more than one broker, consider transferring all your holdings into one account. If you are a registered shareholder, check that your name and address are identical on each certificate. If this is not the case, please contact our transfer agent. You may also register to e-delivery service if you do not wish to receive paper documents.

If my BCE share certificate is lost, stolen or destroyed, how do I get it replaced?  
Please contact our transfer agent, CST Trust Company. A representative will send you the necessary documentation to arrange for a replacement certificate. You will also be required to pay an indemnity bond premium fee, which is equal to 3% of the market value of the shares represented by your lost certificate(s).

Contact our Transfer Agent and Registrar.

What is the status in Canada regarding estate taxes and succession duties?  
There are no estate taxes or succession duties imposed by Canada or by any province in Canada.

 

Preferred shares/bonds  Top

What are the dividend record and payment dates for BCE and Bell Canada preferred shares?  
See our Dividend Dates page for details about payment and record dates for dividends on BCE and Bell Canada preferred shares.

What are the principal terms and conditions relating to BCE's authorized and outstanding series of First Preferred shares?  
See Preferred Shares for more information about BCE's series of preferred shares.

Who was the redemption agent for old Bell Canada preferred shares?  
CIBC was the redemption agent for some of Bell Canada’s old preferred shares. Contact Investor Relations for more details.

Looking for additional information on bonds?  
Please consult our Bond Information section.

 

Corporate Governance Questions  Top

Where do I find information on executive and director compensation?  
This information is available in the Management Proxy Circular under Compensation Discussion & Analysis section.

 
Do BCE’s corporate governance practices meet the requirements of the Securities and Exchange Commission in the United States?

BCE fully complies with the corporate governance requirements of the SEC, the Sarbanes-Oxley Act and the New York Stock Exchange as applicable to BCE, as a Canadian MJDS (Multi-jurisdictional Disclosure System) issuer.

Does management certify the completeness and accuracy of BCE’s financial statements?  
Yes. BCE's CEO and CFO certify the company's annual financial statements in accordance with the Canadian and U.S. rules as appliable to BCE.

Is BCE’s Board of Directors composed of independent directors?  
Yes. Only one of the 13 persons on the Board is considered to be ''not-independent'' pursuants to BCE's directors independence standards which are consistent with Canadian and U.S. rules as applicable to BCE.