BCE announced a 7.7% increase in its annual common share dividend to $1.97 per share for 2011, and plans to accelerate funding of future pension obligations through a voluntary prepayment in December 2010 in the amount of $750 million to Bell Canada’s defined benefit pension plan from cash on hand. This represents BCE’s sixth increase to the annual common share dividend in the past two years.
“Bell continues its strong track record as a dividend growth company, delivering increasing returns to our shareholders in a consistent and financially sustainable manner,” said George Cope, President and CEO of BCE and Bell Canada. “The dividend increase reflects our confidence in delivering continued earnings growth and strong cash flow as we accelerate the execution of Bell’s 5 Strategic Imperatives. Substantial ongoing cash flow generation and ample liquidity provide us with the financial flexibility to reward shareholders and maintain a strong balance sheet – while continuing our significant investments in broadband networks and other strategic business initiatives to enhance our competitive position.”http://
