Why Invest in BCE?

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"> Integrated annual<br class="d-sm-none d-md-block" aria-hidden="true"/> report 2023</span> </a> </div> </li> </ul> <ul class="federal-bar-mobile"> <li> <div> <a id="languageSelector-mobile" class="js-current-language footer-header-current-language" href="#" lang ="fr" hreflang="fr" data-vanityurl="/investisseurs/investir-dans-bce" data-alternative="fr" role="button"> Fran莽ais </a> </div> </li> <li> <div> <a href="/Accessibility_services" >Accessibility</a> </div> </li> </ul> </nav> <div class="connector-settings">   <div class="connector-search-wrap">  <div id="connector-search" class="CoveoSearchbox" data-enable-omnibox="true" data-enable-partial-match="true" data-partial-match-keywords="4" data-partial-match-threshold="75%"> </div>  </div>  </div> </div> </div> <div id="initial-lang-reigon-backdrop"></div> <div class="connector-active-lob modified-secondary-navigation mobile-secondary-navigation " role="navigation" aria-label="Secondary"> <div class="container"> <div id="msn-left" tabindex="0" class="msn-button" role="button" aria-label="Previous"></div> <a href="/investors" class="bellSlim section-link" aria-current="true"> Investors </a> <div class="link-container"> <ul class="clearfix"> <li class="" aria-current="false"> <a href="/investors/overview">Overview</a> </li> <li class="active" aria-current="page"> <a href="/investors/invest-in-bce">Invest in BCE</a> </li> <li class="" aria-current="false"> <a href="/investors/shares-and-dividends">Shares and dividends</a> </li> <li class="" aria-current="false"> <a href="/investors/financial-reports">Financial reports</a> </li> <li class="" aria-current="false"> <a href="/investors/events">Events</a> </li> <li class="" aria-current="false"> <a href="/investors/shareholder-info">Shareholder info</a> </li> <li class="" aria-current="false"> <a href="/investors/bonds">Bonds</a> </li> </ul> </div> <div id="msn-right" tabindex="0" class="msn-button" role="button" aria-label="Next"></div> </div> </div> </div> </header> <div id="accept-terms-read-report" class="modal fade scrollable-body accept-terms-read-report js-focus-modal-trap" role="dialog" tabindex="-1" data-backdrop="true" data-keyboard="true" aria-labelledby="accept-terms-read-report-title"> <div class="modal-dialog"> <div class="modal-content" role="document"> <div class="modal-header"> <h2 class="bellSlimBlack txtSize24 margin-b-0 txtBlack2" id="accept-terms-read-report-title"> Caution regarding forward-looking statements</h2> <button type="button" class="close" data-dismiss="modal" aria-label="close dialog" data-url="#"><span class="icon icon-close txtBlue txtSize20"></span></button> </div> <div class="modal-body scrollAdjust"> <p class="margin-b-30">The following webpages contain forward-looking statements including, without limitation, statements relating to BCE’s dividend growth objective, 2024 annualized common share dividend and dividend payout ratio level, and dividend payout policy target, BCE’s anticipated capital expenditures, network deployment plans and the benefits expected to result therefrom, our transformation initiatives and restructuring and the benefits expected to result therefrom, our ESG objectives and the benefits expected to result therefrom (which include, without limitation, our objectives concerning diversity, equity, inclusion and belonging (DEIB), customer experience, energy savings, circular economy and waste reduction, community investment, privacy and information security, network reliability, corporate governance and ethical business conduct leadership, reductions in the level of our GHG emissions including, without limitation, our carbon neutrality (scope 1 and 2 only) target and our science-based targets, and our carbon abatement objectives), the expected impacts on our company of various climate-related events, business opportunities that could result from climate change, BCE’s business outlook, objectives, plans and strategic priorities, and other statements that do not refer to historical facts. A statement we make is forward-looking when it uses what we know and expect today to make a statement about the future. Forward-looking statements are typically identified by the words <em>assumption, goal, guidance, objective, outlook, project, strategy, target, commitment</em> and other similar expressions or future or conditional verbs such as <em>aim, anticipate, believe, could, expect, intend, may, plan, seek, should, strive</em> and <em>will</em>. All such forward-looking statements are made pursuant to the safe harbour provisions of applicable Canadian securities laws and of the United States (U.S.) <em>Private Securities Litigation Reform Act of 1995</em>.</p> <p class="margin-b-30">Unless otherwise indicated by us, forward-looking statements in the following webpages describe our expectations as at March 7, 2024 and, accordingly, are subject to change after that date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in, or implied by, such forward-looking statements and that our business outlook, objectives, plans and strategic priorities may not be achieved. These statements are not guarantees of future performance or events, and we caution you against relying on any of these forward-looking statements. Forward-looking statements are presented in the following webpages for the purpose of assisting readers in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned, however, that such information may not be appropriate for other purposes.</p> <p class="margin-b-30">We have made certain economic, market, operational and other assumptions in preparing the forward-looking statements contained in the following webpages, which include, without limitation, the assumptions described in the subsections of the BCE 2023 Annual MD&A entitled <em>Assumptions</em>, which subsections are incorporated by reference in this cautionary statement. Subject to various factors, we believe that our assumptions were reasonable at March 7, 2024. If our assumptions turn out to be inaccurate, actual results or events could be materially different from what we expect.</p> <p class="margin-b-30">Important risk factors that could cause actual results or events to differ materially from those expressed in, or implied by, the previously-mentioned forward-looking statements and other forward-looking statements contained in the following webpages, include, but are not limited to, the risks described in section 9, <em>Business risks</em> of the BCE 2023 Annual MD&A, which section is incorporated by reference in this cautionary statement.</p> <p class="margin-b-30">Forward-looking statements contained in the following webpages for periods beyond 2024 involve longer-term assumptions and estimates than forward-looking statements for 2024 and are consequently subject to greater uncertainty. They assume, unless otherwise indicated, that the relevant assumptions and risks described in the BCE 2023 Annual MD&A will remain substantially unchanged during such periods.</p> <p class="margin-b-30">We caution readers that the risk factors described in the previously-mentioned section and in other sections of the BCE 2023 Annual MD&A are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our business, financial condition, liquidity, financial results or reputation. We regularly consider potential acquisitions, dispositions, mergers, business combinations, investments, monetizations, joint ventures and other transactions, some of which may be significant. Except as otherwise indicated by us, forward-looking statements do not reflect the potential impact of any such transactions or of special items that may be announced or that may occur after March 7, 2024. The financial impact of these transactions and special items can be complex and depends on facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way, or in the same way we present known risks affecting our business.</p> </div> <div class="modal-footer"> <a class="btn btn-default col1-xs " role="button" href="/2023-integrated-report"> Agree and continue</a> </div> </div> </div> </div> <style> header.standard-outline .global-navigation .menu-flyout-visible .sub-nav-group.accss-focus-blue a:focus::before { border-color: #00549a !important; } </style> <main id="maincontent"> <div class="liquid-container bgGray19"> <div class="spacer45 spacer30-xs" aria-hidden="true"></div> <div class="liquid-container container"> <div class="row noMargin"> <div class="col-12 no-pad"> <h1 class="txtBlack2 txtSize32 txtSize24-xs bellSlimBlack txtBold noMargin" id="pageNavLabel">Invest in BCE</h1> </div> </div> </div> <div class="spacer45 spacer30-xs" aria-hidden="true"></div> </div> <div class="bgWhite"> <div class="spacer45 spacer30-xs" aria-hidden="true"></div> <div class="container liquid-container "> <div class="row noMargin"> <div class="col-sm-8 col-xs-12"> <div> <h2 class="noMargin txtBlack2 bellSlimBlack txtSize24 txtBold txtSize18-xs"> BCE Inc. is Canada's largest communications company, providing advanced broadband communication services to residential, business and government customers throughout the country. </h2> </div> <div class="spacer15" aria-hidden="true"></div> <div> <div class="spacer15" aria-hidden="true"></div> <p class="txtGray4A">BCE Inc. is accelerating its transformation from a traditional telecommunications company to a technology services and digital media leader. </p> <p class="txtGray4A">Bell Canada is building resilient, world-class fibre and wireless networks and embracing automation to offer reliable and innovative communications and digital solutions - keeping Canadians connected, informed and entertained, while enabling businesses to compete on the world stage.</p> </div> <div class="spacer20" aria-hidden="true"></div> <div class="iconLinkContainer iconLinkContainer-right-align inlineBlock"> <a href="/about-bce/bce-overview" class="d-flex removeIconUnderlineOnHover" aria-label="Learn more about BCE"> <span class="txtSize14 txtBlue txtBold pad-10-right">Learn more</span> <span class="iconContainer"><i class="icon icon-more-details-pill txtSize16 txtBlue" aria-hidden="true"></i></span> </a> </div> </div> </div> </div> <div class="spacer20" aria-hidden="true"></div> </div> <div class="liquid-container container"> <div> <h2 class="txtBlack2 bellSlimBlack txtBold noMargin txtSize24">Reasons to invest in BCE</h2> </div> </div> <div class="spacer30" aria-hidden="true"></div> <div class="liquid-container container"> <div class="row noMargin card-collapsible-cont">  <div class="card-collapsible-child col-12 col-sm-6 col-md-4 height-230"> <div class="pad-30-left-right pad-15-top pad-30-bottom bgBlue borderRadiusAll10 fullHeight"> <i class="icon2 bce-no-top icon-canada_nobg_BCE txtWhite txtSize74-before height-74 left-negative-10-before" aria-hidden="true"></i> <button type="button" class="close txtSize22 card-collapsible-child-close" aria-label="close button" aria-describedby="canada’s"><span class="icon icon-close txtWhite txtSize20"></span></button> <div class="spacer20" aria-hidden="true"></div> <div class="" id="canada’s"> <h3 class="txtSize18 txtWhite noMargin txtBold">Canada鈥檚 largest and leading communications company</h3> <div class="card-collapsible-child-content standard-outline-overflow-adjust pad-30-bottom-xs txtBlueExtraLight" aria-hidden="true"> <div class="spacer15" aria-hidden="true"></div> <p class="noMargin">We are Canada’s largest communications company, offering a wide range of telecommunications products and services to approximately 22 million subscribers. We are the market leader in Internet and TV, the largest local exchange carrier and one of the largest wireless operators in Canada. </p> <div class="spacer10" aria-hidden="true"></div> <p class="noMargin">Our significant service footprint and scale, due to our large customer base, our wireline and wireless network reach, and our ability to sell through a variety of distribution channels give us a key competitive advantage. With a wireless network service footprint that encompasses approximately 99% of the Canadian population and a wireline incumbent local exchange carrier footprint that extends to approximately three-quarters of Canadian households, BCE is best positioned to take advantage of integrated wireless and wireline solutions in the future.</p> </div> <div class="spacer30" aria-hidden="true"></div> </div> <div class="position-absolute bottom-30 card-collapsible-child-accordion"> <a href="#" class="bce-card-collapsible txtWhite d-flex align-items-center txtSize14 txtBold txtNoUnderline" aria-expanded="false" role="button" aria-label="Show more Canada鈥檚 largest and leading communications company"> <i class="icon txtSize22 bce-no-top icon-exapnd-outline-circled" aria-hidden="true"></i> <span class="txtBold pad-10-left" >Show details</span> <span class="txtBold pad-10-left" >Hide details</span> </a> </div> </div> </div> <div class="card-collapsible-child col-12 col-sm-6 col-md-4 height-230"> <div class="pad-30-left-right pad-15-top pad-30-bottom bgBlue borderRadiusAll10 fullHeight"> <i class="icon2 bce-no-top icon-strong_capital_structure_nobg_BCE txtWhite txtSize74-before height-74 left-negative-10-before" aria-hidden="true"></i> <button type="button" class="close txtSize22 card-collapsible-child-close" aria-label="close button" aria-describedby="strong"><span class="icon icon-close txtWhite txtSize20"></span></button> <div class="spacer20" aria-hidden="true"></div> <div class="" id="strong"> <h3 class="txtSize18 txtWhite noMargin txtBold">Strong capital structure</h3> <div class="card-collapsible-child-content standard-outline-overflow-adjust pad-30-bottom-xs txtBlueExtraLight" aria-hidden="true"> <div class="spacer15" aria-hidden="true"></div> <p class="noMargin">BCE’s balance sheet is underpinned by a healthy liquidity position and an investment-grade debt profile, providing the company with a solid financial foundation and a high level of overall financial flexibility.</p> <div class="spacer10" aria-hidden="true"></div> <p class="noMargin">We continue to monitor the capital markets for opportunities where we can further reduce our cost of debt and optimize our cost of capital.</p> </div> <div class="spacer30" aria-hidden="true"></div> </div> <div class="position-absolute bottom-30 card-collapsible-child-accordion"> <a href="#" class="bce-card-collapsible txtWhite d-flex align-items-center txtSize14 txtBold txtNoUnderline" aria-expanded="false" role="button" aria-label="Show more Strong capital structure"> <i class="icon txtSize22 bce-no-top icon-exapnd-outline-circled" aria-hidden="true"></i> <span class="txtBold pad-10-left" >Show details</span> <span class="txtBold pad-10-left" >Hide details</span> </a> </div> </div> </div> <div class="card-collapsible-child col-12 col-sm-6 col-md-4 height-230"> <div class="pad-30-left-right pad-15-top pad-30-bottom bgBlue borderRadiusAll10 fullHeight"> <i class="icon2 bce-no-top icon-experienced_leadership_BCE txtWhite txtSize74-before height-74 left-negative-10-before" aria-hidden="true"></i> <button type="button" class="close txtSize22 card-collapsible-child-close" aria-label="close button" aria-describedby="experienced"><span class="icon icon-close txtWhite txtSize20"></span></button> <div class="spacer20" aria-hidden="true"></div> <div class="" id="experienced"> <h3 class="txtSize18 txtWhite noMargin txtBold">Experienced and proven leadership team</h3> <div class="card-collapsible-child-content standard-outline-overflow-adjust pad-30-bottom-xs txtBlueExtraLight" aria-hidden="true"> <div class="spacer15" aria-hidden="true"></div> <p class="noMargin">We have an experienced, highly regarded and dedicated management team averaging more than 20 years' experience with a track record of success. Our best-in-class leadership team has re-energized our wireline business and shifted our focus to growth services, which has allowed Bell to generate consistently strong wireless operating and financial results.</p> </div> <div class="spacer30" aria-hidden="true"></div> </div> <div class="position-absolute bottom-30 card-collapsible-child-accordion"> <a href="#" class="bce-card-collapsible txtWhite d-flex align-items-center txtSize14 txtBold txtNoUnderline" aria-expanded="false" role="button" aria-label="Show more Experienced and proven leadership team"> <i class="icon txtSize22 bce-no-top icon-exapnd-outline-circled" aria-hidden="true"></i> <span class="txtBold pad-10-left" >Show details</span> <span class="txtBold pad-10-left" >Hide details</span> </a> </div> </div> </div> <div class="card-collapsible-child col-12 col-sm-6 col-md-4 height-230"> <div class="pad-30-left-right pad-15-top pad-30-bottom bgBlue borderRadiusAll10 fullHeight"> <i class="icon2 bce-no-top icon-trophy_star_nobg_BCE txtWhite txtSize74-before height-74 left-negative-10-before" aria-hidden="true"></i> <button type="button" class="close txtSize22 card-collapsible-child-close" aria-label="close button" aria-describedby="unmatched"><span class="icon icon-close txtWhite txtSize20"></span></button> <div class="spacer20" aria-hidden="true"></div> <div class="" id="unmatched"> <h3 class="txtSize18 txtWhite noMargin txtBold">Unmatched brand value</h3> <div class="card-collapsible-child-content standard-outline-overflow-adjust pad-30-bottom-xs txtBlueExtraLight" aria-hidden="true"> <div class="spacer15" aria-hidden="true"></div> <p class="noMargin">Bell received the #1 ranking among Canadian communications companies on Brand Finance’s list of the Top 100 Canadian brands for 2023.</p> <div class="spacer10" aria-hidden="true"></div> <p class="noMargin">Valued at $11.0 billion, up 12% in the last year, Bell’s brand is among the top 10 most valuable in Canada.</p> <div class="spacer10" aria-hidden="true"></div> <p class="noMargin">Bell also earned a AA brand rating from Brand Finance based on brand strength, risk and potential relative to competitors. A brand’s value reflects a company’s reputation and the loyalty it commands among customers, employees and investors, as well as future revenues attributable to the brand’s strength.</p> </div> <div class="spacer30" aria-hidden="true"></div> </div> <div class="position-absolute bottom-30 card-collapsible-child-accordion"> <a href="#" class="bce-card-collapsible txtWhite d-flex align-items-center txtSize14 txtBold txtNoUnderline" aria-expanded="false" role="button" aria-label="Show more Unmatched brand value"> <i class="icon txtSize22 bce-no-top icon-exapnd-outline-circled" aria-hidden="true"></i> <span class="txtBold pad-10-left" >Show details</span> <span class="txtBold pad-10-left" >Hide details</span> </a> </div> </div> </div> <div class="card-collapsible-child col-12 col-sm-6 col-md-4 height-230"> <div class="pad-30-left-right pad-15-top pad-30-bottom bgBlue borderRadiusAll10 fullHeight"> <i class="icon2 bce-no-top icon-responsible_investment_nobg_BCE txtWhite txtSize74-before height-74 left-negative-10-before" aria-hidden="true"></i> <button type="button" class="close txtSize22 card-collapsible-child-close" aria-label="close button" aria-describedby="generating"><span class="icon icon-close txtWhite txtSize20"></span></button> <div class="spacer20" aria-hidden="true"></div> <div class="" id="generating"> <h3 class="txtSize18 txtWhite noMargin txtBold">Generating sustainable returns</h3> <div class="card-collapsible-child-content standard-outline-overflow-adjust pad-30-bottom-xs txtBlueExtraLight" aria-hidden="true"> <div class="spacer15" aria-hidden="true"></div> <p class="noMargin">We believe that our financial performance is partly linked to environmental and social responsibility - that by attempting to reconcile economic, environmental and social objectives, we minimize risks, and in many instances realize significant gains.</p> </div> <div class="spacer30" aria-hidden="true"></div> </div> <div class="position-absolute bottom-30 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vers le bas et pay茅es en esp猫ce.</div> <div id="fna-1"><span class="prnews_span"><sup>i</sup> IDC report <i>IoT Adoption in Canada, 2021</i> by Nigel Wallis IDC#CA47059321 </span></div> <div id="fna-2"><span class="prnews_span"><sup>i  </sup>Rapport d'IDC <i>IoT Adoption in Canada, 2021</i> par Nigel Wallis, document d'IDC num茅ro CA47059321</span></div> <div id="fnt-1">1. As the Incumbent Local Exchange Carrier Bell Canada provides local exchange service to most MDUs in Ontario and Quebec.</div> <div id="fnt-2">2. Service is provided under Bell Canada's CRTC approved "Terms of Service" and no other written access agreements exist for these buildings.</div> <div id="fnt-3">3. Local Exchange Carriers requesting information on any other specific locations are requested to contact their Bell Canada Carrier Services Group representative via normal channels.</div> <div id="fntf-1">1. 脌 titre d'entreprise de services locaux titulaire, Bell Canada offre le service local 脿 la plupart des ILM du Qu茅bec et de l'Ontario. Le service est fourni en vertu des 芦 modalit茅s de service 禄 de Bell Canada qui sont approuv茅es par le CRTC, et aucune autre entente d'acc猫s n'existe pour ces immeubles.</div> <div id="fntf-2">2. Il existe un petit nombre d'ILM r茅cemment construits auxquels Bell Canada tente encore d'acc茅der. 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