BCE reports Q4 profit down from year earlier, raises dividend
MONTREAL – BCE Inc. reported its fourth-quarter profit fell compared with a year ago and in its outlook for 2023 said it expected its adjusted earnings per share for the full year will be down compared with 2022.
However, the company raised its quarterly dividend to 96.75 cents per share from 92 cents per share.
BCE says its net earnings attributable to common shareholders amounted to $528 million or 58 cents per diluted share in its fourth quarter, down from $625 million or 69 cents per diluted share a year earlier.
Total operating revenue was $6.44 billion, up from $6.21 billion in the fourth quarter of 2021.
On an adjusted basis, BCE says it earned 71 cents per share in its latest quarter, down from 76 cents per share a year earlier.
In its outlook for 2023, BCE says it expects its adjusted earnings per share for the year to be down three to seven per cent compared with 2022 as it expects lower tax adjustments, higher depreciation and amortization expenses and increased interest costs. Revenue growth for 2023 is expected to be between one and five per cent.
This report by The Canadian Press was first published Feb. 2, 2023.
Companies in this story: (TSX:BCE)