BCE increases dividend, 2012 outlook, reports 31% increase in Q2 profit

MONTREAL – BCE Inc. (TSX:BCE) says it’s raising the dividend on its common shares and its earnings forecast for 2012.

The announcement came as the parent of Bell Canada and CTV Inc. reported a 31 per cent increase in second-quarter net income attributable to common shareholders.

The Montreal-based company’s profit rose to $773 million or $1 per share before adjustments.

On an adjusted basis, the profit was $1.02 per common share or $788 million — 19 cents per share above a consensus estimate compiled by Thomson Reuters.

The company is also raising its forecast for 2012 adjusted earnings by two cents per share, to a range of between $3.15 and $3.20 per share.

BCE says it’s dividend rate will be increased to $2.27 per share annually, or 56.75 cents per share quarterly, beginning with the October payout.

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