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BCE Inc. adjusted net earnings decrease in Q4 to $495 million

February 6, 2014

MONTREAL - BCE Inc. (TSX:BCE), says it recorded adjusted net earnings in the fourth quarter of $495 million, or 64 cents per share, down from $666 million, or 86 cents per share, from the same quarter in 2012.

The company says the year-over-year decrease in net earnings was due to a non-cash gain recognized in the fourth quarter of 2012 on the transfer of spectrum from Inukshuk to its partners.

Adjusted net earnings were $540 million, an increase of 16.4 per cent, and adjusted earnings per share increased 16.7 per cent to 70 cents,, mainly as a result of higher before-tax earnings at Bell.

Canada's largest communications company says operating revenues during the quarter were 4.3 per cent higher at $5.3 billion as all 2013 financial targets were achieved.

BCE also announced a 14 cent per share increase in its annual common share dividend to $2.47.

For all of 2013, BCE's net earnings were $1.975 billion, or $2.55 per share, down from $2.4 billion, or $3.17 per share, compared to the previous year. BCE says the decrease was partly due to $230 million that Bell was ordered to pay by the CRTC as part of the acquisition of Astral that was completed in the third quarter.

(The Canadian Press)

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Source: Canadian Press Broadcast Wire (Canada)

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