BCE, Inc. (NYSE:BCE) Plans C$0.44 Quarterly Dividend

Key Points

• C$0.4375 quarterly dividend declared by BCE, payable July 15 to shareholders of record on June 15 (ex-dividend date June 15), which implies an annualized yield of about 7.1%.
• The dividend is largely covered—BCE has a trailing payout ratio of 67.7% and analysts forecast ~$1.95 in EPS next year (implying a future payout ratio near 65.6%)—although the company has trimmed its dividend by roughly 0.2% per year on average over the past three years.

BCE, Inc. (NYSE:BCE - Get Free Report) TSE: BCE announced a quarterly dividend on Thursday, May 7th. Investors of record on Monday, June 15th will be given a dividend of 0.4375 per share by the utilities provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, June 15th.

BCE has decreased its dividend payment by an average of 0.2%annually over the last three years. BCE has a payout ratio of 67.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BCE to earn $1.95 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 65.6%.

BCE Trading Up 1.4%

BCE stock traded up $0.34 during mid-day trading on Thursday, hitting $24.57. 5,760,434 shares of the company's stock were exchanged, compared to its average volume of 3,422,619. The company's 50 day simple moving average is $24.94 and its 200-day simple moving average is $24.29. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $22.91 billion, a P/E ratio of 5.00 and a beta of 0.48. BCE has a fifty-two week low of $21.09 and a fifty-two week high of $26.52.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its earnings results on Thursday, February 5th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.04. The firm had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $6.55 billion. BCE had a return on equity of 15.39% and a net margin of 26.14%.The company's revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that BCE will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCE. Caitong International Asset Management Co. Ltd lifted its stake in BCE by 735.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,161 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 1,022 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of BCE during the 4th quarter worth approximately $28,000. JCIC Asset Management Inc. bought a new position in shares of BCE during the 3rd quarter worth approximately $31,000. Ascentis Independent Advisors acquired a new stake in shares of BCE in the first quarter valued at approximately $33,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of BCE by 1,642.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,411 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 1,330 shares during the last quarter. 41.46% of the stock is currently owned by institutional investors.

About BCE

BCE Inc NYSE: BCE is a Canadian communications, media and entertainment company that operates through its primary subsidiaries, including Bell Canada and Bell Media. As a large integrated telecommunications provider, BCE delivers a broad range of connectivity services and content to residential, business and wholesale customers across Canada. The company combines network infrastructure with media assets to offer bundled communications and entertainment solutions.

On the services side, BCE provides fixed-line and wireless voice services, mobile data, high-speed internet, fibre and broadband access, and television services through platforms such as Bell Fibe and Bell TV.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.