MONTREAL – BCE announced plans to repurchase shares and raise its dividend to shareholders.
Canada’s largest telecom company said that it would buy back up to $500 million worth of shares, as well as a $500 million special voluntary pension contribution from its year-end 2009 surplus cash balance.
The dividend, payable on April 15, 2010, will increase by 7%. This represents BCE’s third increase to the annual common share dividend and the second share buyback since the termination of its proposed privatization agreement in December 2008.
