MONTREAL — BCE Inc. had an eight per cent decline in fourth quarter net income last year, as an asset writedown and other expense items offset higher revenue for the telecommunications and media company.
The owner of Bell Canada says its net income fell to $642 million in the three months ended Dec. 31 while net income attributable to common shareholders fell to $606 million or 68 cents per share.
That was down from $698 million of net income and $656 million of net income attributable to common shareholders or 72 cents per share for the fourth quarter of 2017.
BCE’s operating revenues rose three per cent to $6.22 billion from $6.04 billion and while its adjusted earnings rose 7.9 per cent to $794 million or 89 cents per share.
Analysts had estimated $6.17 billion of revenue and 86 cents per share of adjusted earnings, according to Thomson Reuters Eikon.
BCE also announced a five per cent increase in its common share dividend, which rises to $3.17 per year or 79.25 cents per quarter, beginning with the April 15 payout.
Companies in this story: (TSX:BCE)
The Canadian Press