Bell's stock rises on news of positive first quarter, dividend boost, and LTE announcement
Bell's stock has surged three percent following a news release by BCE outlining its first quarter financials.
Notably, it's boosting its dividend after reporting growth in earnings per share and increased revenue.
"We successfully closed our acquisition of CTV a full quarter ahead of schedule, supporting the increased 2011 financial guidance and the 5 percent dividend increase we're announcing today," said George Cope, Bell's CEO. "The increase is well aligned to our dividend growth model and driven by strong expected earnings accretion from CTV. With the launch of the new Bell Media business unit, we've quickly leveraged these superior content assets with enhanced Bell Mobile TV and Bell TV Online programming and the launch of TSN Radio."
On the consumer side, Bell has also announced that it plans to launch its much-anticipated LTE network to select Canadian markets by the end of this year.
The company says it will deploy next-generation LTE wireless in "certain Canadian markets in 2011, with full national deployment contingent on the availability of new 700 MHz spectrum" that Bell deems "essential." WhHat exactly this ends up meaning, who knows. But I guess we'll found out eventually.
