Announces 2021 financial targets, 5.1% dividend increase and capital investment acceleration of at least $1 billion to advance fibre and wireless network expansion over the next 2 years
This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release.
MONTRÉAL, Feb. 4, 2021 /PRNewswire/ - BCE Inc. (TSX: BCE), (NYSE: BCE) today reported results for the fourth quarter (Q4) and full-year 2020, provided financial guidance for 2021 and announced a 5.1%, or $0.17 per share, increase in the BCE annual common share dividend to $3.50. The company also unveiled an ambitious broadband network acceleration program enabled by an additional $1 billion to $1.2 billion in capital investment over the next 2 years.
"Today, BCE is proud to announce a significant acceleration in network capital investment to support Canada's recovery from the social and economic impacts of COVID-19 alongside a 5.1% increase in our common share dividend. These initiatives reflect our commitment to lead the buildout of Canada's next-generation digital infrastructure while also delivering increased dividend returns to the shareholders who have invested in Bell's strategy of broadband innovation and growth," said Mirko Bibic, President and CEO of BCE and Bell Canada.
"Bell's solid fourth-quarter Q4 and 2020 results – including welcoming 147,000 net new retail Internet, IPTV and wireless customers in Q4 – underscore the advantages of fast, reliable and high-capacity networks in a challenging and competitive marketplace. Bell's network leadership has kept Canadians connected, informed and entertained throughout COVID-19, with the round-the-clock support and ongoing investments in network capacity and digital platforms necessary to enable the business, government and front-line response to the crisis," said Mr. Bibic.
"Now, Bell looks forward to playing a key role in the country's move forward with an acceleration of at least $1 billion over the next 2 years to deliver fibre connections, rural Internet services and the fastest 5G network to even more Canadians. Since 1880, Bell has led the way in ensuring Canada's leadership position in the global communications sector, and our team is proud to advance how Canadians connect with each other and the world in 2021."
KEY BUSINESS DEVELOPMENTS
Accelerating Canada's best networksCommitted to being a key driver of Canada's social and economic recovery, Bell today announced a capital investment acceleration of an additional $1 billion to $1.2 billion over the next 2 years to roll out its fast fibre, rural Wireless Home Internet (WHI) and 5G networks to even more Canadians. Bell plans to increase the number of new locations covered with fibre and WHI by as many as 900,000 in 2021 – bringing the combined footprint to up to 6.9 million homes and businesses by the end of the year – while doubling the population coverage of Canada's fastest 5G network. Funded by proceeds from the sale of Bell data centres in 2020, the investment acceleration is in addition to Bell's typical capital expenditures over the last decade of approximately $4 billion a year (growing to $4.2 billion in 2020 due to added investment in network capacity and digital platforms in response to unprecedented usage demand during the COVID crisis).
Bell continues to lead the way in connecting rural Canada with Wireless Home Internet, including launching an unlimited usage option for WHI customers this week. Bell significantly stepped up WHI expansion in 2020, including to rural Atlantic Canada and in response to COVID-19 demand, while also doubling Internet access speeds for most WHI customers. Bell's 5G network was ranked Canada's fastest in PCMag's prestigious Fastest Mobile Networks Canada analysis, and now reaches more than 150 major urban areas and smaller communities across Canada with plans to double the footprint in 2021. Bell also helped accelerate broadband Internet rollouts throughout Québec with new measures simplifying access to support structures and a Centre of Excellence, and worked with Société de Transport de Montréal (STM) and industry partners to complete deployment of wireless service throughout Montréal's metro transit system.
5G research leadershipBell remains the #1 communications R&D investor in Canada according to Research Infosource's latest annual ranking of the country's top 100 investors in research and development. Bell and the University of New Brunswick have launched the Bell Research Intensive Cyber Knowledge Studies (BRICKS) program providing students with the opportunity to earn a Masters of Applied Cybersecurity along with research internships and a full-time job after graduation. Bell has also partnered with the Université de Sherbrooke to accelerate 5G research at its Interdisciplinary Institute for Technological Innovation, building on an earlier 5G alliance with Western University.
The most compelling content Bell Media's French-language Noovo television and digital network is delivering new investment in Québec media and fresh choice for viewers, including the new Le Fil news service launching next month. We further enhanced content creation and production resources through a new partnership with Montréal's Grandé Studios while also significantly expanding sound stages and other facilities at Pinewood Toronto Studios. With 8 of the Top 10 programs in the fall season, CTV remains Canada's most-watched network with growth in viewership throughout the season. iHeartRadio Canada introduced the adult contemporary MOVE Radio brand in 10 markets across the country.
Champion customer experienceBell led the industry for a 5th consecutive year in significantly reducing customer complaints according to the annual report from the Commission for Complaints for Telecom-television Services (CCTS). With ongoing enhancement of digital capabilities including online fulfillment, self-serve and enhanced app functionality, more than 50% of total customer transactions are now conducted online. Following similar wins for the MyBell and Lucky Mobile self-serve apps, Virgin Mobile's My Account was named the Best Telecommunications Mobile Application of the year at the 2020 MobileWebAwards.
Now more than ever: Bell Let's Talk Day sets new recordsReflecting widespread recognition of the impacts of the COVID-19 crisis on the mental health of so many, Canadians set all-new records on Bell Let's Talk Day 2021, sharing 159,173,435 messages of support for those who live with mental illness. With Bell donating 5 cents to Canadian mental health programs for each of these calls, texts and social media interactions, this unprecedented level of engagement grew our total Bell Let's Talk funding commitment to date by $7,958,671.75 to $121,373,806.75. More than 160 Bell Let's Talk flags were raised around the country and students at over 200 colleges and universities took part in virtual programs to share ideas for action, alongside the launch of the Bell Let's Talk Post-Secondary Fund supporting implementation of the National Standard of Canada for Mental Health and Well-Being for Post-Secondary Students.
As part of Bell's commitment to support diverse communities, Bell Let's Talk announced the next 8 recipients of the Bell Let's Talk Diversity Fund, which provides grants up to $250,000 to organizations advancing mental heath services for Black, Indigenous and People of Colour (BIPOC) communities in Canada. Bell Let's Talk also announced new support for the QEII Foundation in Halifax, Montréal's Sainte-Justine University Hospital Centre, national youth mental health organization Jack.org, and Brain Canada in a $4 million partnership with the federal government. Applications for 2021's Bell Let's Talk Community Fund, the special $2 million annual program supporting local and grassroots organizations providing community access to mental health care, are now open.
BCE RESULTSFollowing BCE's June 1, 2020 announcement that it had agreed to sell substantially all of its data centre operations, we have reclassified amounts related to the announced sale for the previous periods to discontinued operations in our consolidated income statements and consolidated statements of cash flows to make them consistent with the presentation for the current period. The transaction was completed in Q4 2020.
Financial Highlights
($ millions except per share amounts) (unaudited) | Q4 2020 | Q4 2019 | % change | 2020 | 2019 | % change |
BCE | ||||||
Operating revenues | 6,102 | 6,275 | (2.8%) | 22,883 | 23,793 | (3.8%) |
Net earnings | 932 | 723 | 28.9% | 2,699 | 3,253 | (17.0%) |
Net earnings attributable to common shareholders | 889 | 672 | 32.3% | 2,498 | 3,040 | (17.8%) |
Adjusted net earnings(1)(2) | 731 | 784 | (6.8%) | 2,730 | 3,119 | (12.5%) |
Adjusted EBITDA(3) | 2,404 | 2,484 | (3.2%) | 9,607 | 10,006 | (4.0%) |
Net earnings per common share (EPS) | 0.98 | 0.74 | 32.4% | 2.76 | 3.37 | (18.1%) |
Adjusted EPS(1)(2) | 0.81 | 0.86 | (5.8%) | 3.02 | 3.46 | (12.7%) |
Cash flows from operating activities | 1,631 | 2,091 | (22.0%) | 7,754 | 7,958 | (2.6%) |
Capital expenditures | (1,494) | (1,150) | (29.9%) | (4,202) | (3,974) | (5.7%) |
Free cash flow(1)(4) | 92 | 874 | (89.5%) | 3,348 | 3,738 | (10.4%) |
"In every successive quarter since COVID-19 began, Bell has delivered sequential quarterly improvement in our operating results, underscoring the stability and resiliency of our company and the strength of our financial position," said Glen LeBlanc, Chief Financial Officer for BCE and Bell Canada. "As we enter 2021, our business fundamentals are sound, our competitive position remains strong and the Bell team's ability to execute is proven. We are poised to succeed with a rock-solid financial foundation driving both our unparalleled national investment strategy and BCE's higher common share dividend, and ready to deliver on the 2021 financial guidance targets we announced today."
BCE OPERATING RESULTS BY SEGMENT
Bell Wireless
Bell Wireline
Bell Media
COMMON SHARE DIVIDENDBCE's Board of Directors has declared a quarterly dividend of $0.875 per common share, payable on April 15, 2021 to shareholders of record at the close of business on March 15, 2021.
OUTLOOK FOR 2021The table below provides our 2021 financial guidance targets. These ranges are based on our current outlook for 2021 taking into account the impact of COVID-19 on our 2020 consolidated financial results.
Due to uncertainties relating to the severity and duration of COVID-19, including the current resurgence and possible future resurgences in the number of cases, and various potential outcomes, our business and financial results could continue to be significantly and negatively impacted in 2021. Accordingly, there can be no certainty that any of our 2021 financial guidance targets will be achieved. The extent to which COVID-19 will continue to adversely impact us will depend on future developments that are unknown and cannot be predicted, including the development and distribution of effective vaccines and/or treatment options, as well as new information which may emerge concerning the severity, duration and resurgences of COVID-19 and the actions required to contain the coronavirus or remedy its impacts, among others. Please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release for a description of the principal assumptions made by BCE in developing its 2021 financial guidance targets, as well as the principal related risk factors.
2020 Results | 2021 Guidance | |
Revenue growth | (3.8%) | 2% – 5% |
Adjusted EBITDA growth | (4.0%) | 2% – 5% |
Capital intensity | 18.4% | 18% – 20% |
Adjusted EPS growth | (12.7%) | 1% – 6% |
Free cash flow ($M) | $3,348 | $2,850 – $3,200 |
Annualized common dividend per share | $3.33 | $3.50 |
CALL WITH FINANCIAL ANALYSTSBCE will hold a conference call for financial analysts to discuss Q4 2020 results and 2021 financial guidance on Thursday, February 4 at 8:00 am eastern. Media are welcome to participate on a listen-only basis. Please dial toll-free 1-800-806-5484 or 416-340-2217 and enter passcode 9050712#. A replay will be available until midnight on March 4, 2021 by dialing 1-800-408-3053 or 905-694-9451 and entering passcode 1001600#.
A live audio webcast of the conference call will be available on BCE's website at: BCE Q4 2020 conference call. The mp3 file will be available for download on this page later in the day.
NOTESThe information contained in this news release is unaudited.
(1) In Q2 2020, we updated our definitions of adjusted net earnings, adjusted EPS and free cash flow to exclude the impacts of discontinued operations as they may affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. As a result of this change, prior periods have been restated for comparative purposes.
(2) The terms adjusted net earnings and adjusted EPS do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers. We define adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs, impairment of assets and discontinued operations, net of tax and non-controlling interest (NCI). We define adjusted EPS as adjusted net earnings per BCE common share. We use adjusted net earnings and adjusted EPS, and we believe certain investors and analysts use these measures, among other ones, to assess the performance of our businesses without the effects of severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs, impairment of assets and discontinued operations, net of tax and NCI. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring. The most comparable IFRS financial measures are net earnings attributable to common shareholders and EPS. The following table is a reconciliation of net earnings attributable to common shareholders and EPS to adjusted net earnings on a consolidated basis and per BCE common share (adjusted EPS), respectively.
($ millions except per share amounts) |
Q4 2020 | Q4 2019 | 2020 | 2019 | |||||
Total | Per share | Total | Per share | Total | Per share | Total | Per share | |
Net earnings attributable to common shareholders | 889 | 0.98 | 672 | 0.74 | 2,498 | 2.76 | 3,040 | 3.37 |
Severance, acquisition and other costs | 38 | 0.05 | 20 | 0.02 | 85 | 0.10 | 83 | 0.10 |
Net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans | - | - | 45 | 0.05 | 37 | 0.04 | (101) | (0.11) |
Net (gains) losses on investments | (3) | (0.01) | (18) | (0.02) | (46) | (0.05) | 39 | 0.04 |
Early debt redemption costs | 9 | 0.01 | - | - | 37 | 0.04 | 13 | 0.01 |
Impairment of assets | 9 | 0.01 | 70 | 0.08 | 345 | 0.38 | 74 | 0.08 |
Net earnings from discontinued operations | (211) | (0.23) | (5) | (0.01) | (226) | (0.25) | (29) | (0.03) |
Adjusted net earnings | 731 | 0.81 | 784 | 0.86 | 2,730 | 3.02 | 3,119 | 3.46 |
(3) The terms adjusted EBITDA and adjusted EBITDA margin do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers. We define adjusted EBITDA as operating revenues less operating costs, as shown in BCE's consolidated income statements. Adjusted EBITDA for BCE's segments is the same as segment profit as reported in Note 4, Segmented information, in BCE's Q3 2020 consolidated Financial Statements. We define adjusted EBITDA margin as adjusted EBITDA divided by operating revenues. We use adjusted EBITDA and adjusted EBITDA margin to evaluate the performance of our businesses as they reflect their ongoing profitability. We believe certain investors and analysts use adjusted EBITDA to measure a company's ability to service debt and to meet other payment obligations or as a common measurement to value companies in the telecommunications industry. We believe that certain investors and analysts also use adjusted EBITDA and adjusted EBITDA margin to evaluate the performance of our businesses. Adjusted EBITDA is also one component in the determination of short-term incentive compensation for all management employees. Adjusted EBITDA and adjusted EBITDA margin have no directly comparable IFRS financial measure. Alternatively, the following table provides a reconciliation of net earnings to adjusted EBITDA.
($ millions) |
Q4 2020 | Q4 2019 | 2020 | 2019 | |
Net earnings | 932 | 723 | 2,699 | 3,253 |
Severance, acquisition and other costs | 52 | 28 | 116 | 114 |
Depreciation | 872 | 854 | 3,475 | 3,458 |
Amortization | 233 | 224 | 929 | 886 |
Finance costs | ||||
Interest expense | 274 | 285 | 1,110 | 1,125 |
Interest on post-employment benefits obligations | 11 | 16 | 46 | 63 |
Impairment of assets | 12 | 96 | 472 | 102 |
Other expense (income) | 38 | 18 | 194 | (95) |
Income taxes | 191 | 245 | 792 | 1,129 |
Net earnings from discontinued operations | (211) | (5) | (226) | (29) |
Adjusted EBITDA | 2,404 | 2,484 | 9,607 | 10,006 |
BCE operating revenues | 6,102 | 6,275 | 22,883 | 23,793 |
Adjusted EBITDA margin | 39.4% | 39.6% | 42.0% | 42.1% |
(4) The term free cash flow does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers. We define free cash flow as cash flows from operating activities, excluding cash from discontinued operations, acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to NCI. We exclude cash from discontinued operations, acquisition and other costs paid and voluntary pension funding because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring. We consider free cash flow to be an important indicator of the financial strength and performance of our businesses because it shows how much cash is available to pay dividends on common shares, repay debt and reinvest in our company. We believe certain investors and analysts use free cash flow to value a business and its underlying assets and to evaluate the financial strength and performance of our businesses. The most comparable IFRS financial measure is cash flows from operating activities. The following table is a reconciliation of cash flows from operating activities to free cash flow on a consolidated basis.
($ millions) |
Q4 2020 | Q4 2019 | 2020 | 2019 | |
Cash flows from operating activities | 1,631 | 2,091 | 7,754 | 7,958 |
Capital expenditures | (1,494) | (1,150) | (4,202) | (3,974) |
Cash dividends paid on preferred shares | (31) | (37) | (132) | (147) |
Cash dividends paid by subsidiaries to NCI | (16) | (14) | (53) | (65) |
Acquisition and other costs paid | 2 | 7 | 35 | 60 |
Cash from discontinued operations (included in cash flows from operation activities) | - | (23) | (54) | (94) |
Free cash flow | 92 | 874 | 3,348 | 3,738 |
(5) We use ABPU, churn, capital intensity and subscriber units to measure the success of our strategic imperatives. These key performance indicators are not accounting measures and may not be comparable to similar measures presented by other issuers.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to BCE's financial guidance (including revenues, adjusted EBITDA, capital intensity, adjusted EPS and free cash flow), BCE's 2021 annualized common share dividend, BCE's anticipated capital expenditures, including its two-year increased capital investment program to accelerate fibre, Wireless Home Internet and 5G footprint expansion, BCE's business outlook, objectives, plans and strategic priorities, and other statements that are not historical facts. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, project, strategy, target and other similar expressions or future or conditional verbs such as aim, anticipate, believe, could, expect, intend, may, plan, seek, should, strive and will. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995.
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. The forward-looking statements contained in this news release describe our expectations as of February 4, 2021 and, accordingly, are subject to change after such date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Except as otherwise indicated by BCE, forward-looking statements do not reflect the potential impact of any special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after February 4, 2021. The financial impact of these transactions and special items can be complex and depends on the 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. Forward-looking statements are presented in this news release for the purpose of assisting investors and others in understanding certain key elements of our expected financial results, as well as our objectives, strategic priorities and business outlook, and in obtaining a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
Material AssumptionsA number of economic, market, operational and financial assumptions were made by BCE in preparing its forward-looking statements contained in this news release, including, but not limited to the following:
Canadian Economic AssumptionsOur forward-looking statements are based on certain assumptions concerning the Canadian economy, which in turn depend on important assumptions about how the COVID-19 pandemic will evolve. Notably, it is assumed that the vaccine rollout proceeds largely as announced by governments and that Canada, other advanced economies and China achieve broad immunity by the end of 2021. In particular, we have assumed:
Canadian Market AssumptionsOur forward-looking statements also reflect various Canadian market assumptions. In particular, we have made the following market assumptions:
Assumptions Concerning our Bell Wireless SegmentOur forward-looking statements are also based on the following internal operational assumptions with respect to our Bell Wireless segment:
Assumptions Concerning our Bell Wireline SegmentOur forward-looking statements are also based on the following internal operational assumptions with respect to our Bell Wireline segment:
Assumptions Concerning our Bell Media SegmentOur forward-looking statements are also based on the following internal operational assumptions with respect to our Bell Media segment:
Financial Assumptions Concerning BCEOur forward-looking statements are also based on the following internal financial assumptions with respect to BCE for 2021:
The foregoing assumptions, although considered reasonable by BCE on February 4, 2021, may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth in this news release.
Material RisksImportant risk factors that could cause our assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in, or implied by, our forward-looking statements, including our 2021 financial guidance, are listed below. The realization of our forward-looking statements, including our ability to meet our 2021 financial guidance targets, essentially depends on our business performance, which, in turn, is subject to many risks. Accordingly, readers are cautioned that any of the following risks could have a material adverse effect on our forward-looking statements. These risks include, but are not limited to: the COVID-19 pandemic and the adverse effects from the emergency measures implemented or to be implemented as a result thereof, as well as other pandemic, epidemic and other health risks; adverse economic and financial market conditions, a declining level of retail and commercial activity, and the resulting negative impact on the demand for, and prices of, our products and services; the intensity of competitive activity including from new and emerging competitors; the level of technological substitution and the presence of alternative service providers contributing to the acceleration of disruptions and disintermediation in each of our business segments; changing viewer habits and the expansion of OTT TV and other alternative service providers, as well as the fragmentation of, and changes in, the advertising market; rising content costs and challenges in our ability to acquire or develop key content; the proliferation of content piracy; higher Canadian smartphone penetration and reduced or slower immigration flow; regulatory initiatives, proceedings and decisions, government consultations and government positions that affect us and influence our business; the inability to protect our physical and non-physical assets from events such as information security attacks, unauthorized access or entry, fire and natural disasters; the failure to transform our operations, enabling a truly customer-centric service experience, while lowering our cost structure; the failure to continue investment in next-generation capabilities in a disciplined and strategic manner; the inability to drive a positive customer experience; the complexity in our operations; the failure to maintain operational networks in the context of significant increases in capacity demands; the risk that we may need to incur significant capital expenditures to provide additional capacity and reduce network congestion; the failure to implement or maintain highly effective IT systems; the failure to generate anticipated benefits from our corporate restructurings, system replacements and upgrades, process redesigns, staff reductions and the integration of business acquisitions; events affecting the functionality of, and our ability to protect, test, maintain, replace and upgrade, our networks, IT systems, equipment and other facilities; in-orbit and other operational risks to which the satellites used to provide our satellite TV services are subject; the failure to attract and retain employees with the appropriate skill sets and to drive their performance in a safe environment; labour disruptions and shortages; our dependence on third-party suppliers, outsourcers and consultants to provide an uninterrupted supply of the products and services we need to operate our business; the failure of our vendor selection, governance and oversight processes; security and data leakage exposure if security control protocols affecting our suppliers are bypassed; the quality of our products and services and the extent to which they may be subject to manufacturing defects or fail to comply with applicable government regulations and standards; the inability to access adequate sources of capital and generate sufficient cash flows from operating activities to meet our cash requirements, fund capital expenditures and provide for planned growth; uncertainty as to whether dividends will be declared by BCE's board of directors or whether the dividend on common shares will be increased; the inability to manage various credit, liquidity and market risks; pension obligation volatility and increased contributions to post-employment benefit plans; new or higher taxes due to new tax laws or changes thereto or in the interpretation thereof, and the inability to predict the outcome of government audits; the failure to reduce costs, as well as unexpected increases in costs; the failure to evolve practices to effectively monitor and control fraudulent activities; unfavourable resolution of legal proceedings and, in particular, class actions; new or unfavourable changes in applicable laws and the failure to proactively address our legal and regulatory obligations; the failure to recognize and adequately respond to climate change concerns or public and governmental expectations on environmental matters; and health concerns about radiofrequency emissions from wireless communication devices and equipment.
We caution that the foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results. We encourage investors to also read BCE's Safe Harbour Notice Concerning Forward-Looking Statements dated February 4, 2021 for additional information with respect to certain of these and other assumptions and risks, filed by BCE with the Canadian provincial securities regulatory authorities (available at Sedar.com) and with the U.S. Securities and Exchange Commission (available at SEC.gov). This document is also available at BCE.ca.
BCE's Safe Harbour Notice Concerning Forward-Looking Statements dated February 4, 2021 is incorporated by reference in this news release.
About BCEBCE is Canada's largest communications company, providing advanced Bell broadband wireless, TV, Internet and business communications services alongside Canada's premier content creation and media assets from Bell Media. To learn more, please visit Bell.ca or BCE.ca.
The Bell Let's Talk initiative promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives. To learn more, please visit Bell.ca/LetsTalk.
Media inquiries:
Marie-Eve Francoeur514-391-5263marie-eve.francoeur@bell.ca
Investor inquiries:
Thane Fotopoulos514-870-4619thane.fotopoulos@bell.ca
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SOURCE Bell Canada