BCE Inc. reported Q3 2026 operating revenues of $6.182 billion, up 2.2% year over year, and net earnings of $701 million, down 84.6%. The prior-year quarter included a $5.2 billion gain on the sale of its minority stake in Maple Leaf Sports & Entertainment. Adjusted net earnings fell 5.2% to $695 million; operating cash flow rose 15.9% to $2.218 billion, while free cash flow fell 14.9% to $854 million.
Bell Canada agreed to sell La Caisse a 49.9% interest in newly formed TowerCo for $2.45 billion, subject to customary adjustments. Bell retains 50.1% control; closing is expected in the first quarter of 2027 after regulatory approvals and other customary conditions. TowerCo will own Bell’s passive wireless infrastructure, while Bell retains its spectrum and active network equipment.
At Sherwood, the first data hall at the 300 MW facility is expected online in the first half of 2027. A non-binding MOU covers up to 900 MW of additional capacity, which would create a path to 1.2 GW in Saskatchewan. Total facility capital expenditures are expected to exceed $1.7 billion. Bell Mobility’s $675 million land mobile radio business sale is now expected to close in the first half of 2027, subject to approvals and other conditions.
BCE Inc. announced that its wholly owned subsidiary Bell Canada has entered a definitive agreement under which La Caisse will acquire a 49.9% stake in a newly formed wireless tower infrastructure company for CAD $2.45 billion, subject to customary adjustments. The transaction values TowerCo at approximately $4.91 billion. Bell will retain a 50.1% controlling equity interest, and TowerCo’s results will be consolidated by Bell.
TowerCo will own and operate Bell’s wireless infrastructure portfolio, with more than 5,000 sites across Canada, and is expected to have no financial debt at closing. Bell will lease capacity under long-term agreements and retain its spectrum, active network equipment and owned land. Closing is expected in the first quarter of 2027, following receipt of regulatory approvals and satisfaction of other customary closing conditions. BCE says proceeds will be used to execute its strategy of strengthening its balance sheet, investing in growth and delivering total returns to shareholders; that strategy includes a net debt leverage ratio commitment of 3.5x by the end of 2027.
BCE Inc. announced that 400 Series T preferred shares have been tendered for one-for-one conversion into Series S shares, and 676,765 Series S preferred shares have been tendered for one-for-one conversion into Series T shares, on November 2, 2026. On that date, BCE will have 5,474,698 Series T and 1,190,512 Series S preferred shares issued and outstanding.
For the five-year period beginning November 2, 2026, Series T will pay quarterly cash dividends at an annual fixed rate of 5.523%, as and when declared by BCE’s board. Series S will continue to pay monthly floating adjustable cash dividends, also as and when declared. The Series S dividend calculation uses the monthly prime rate and a Designated Percentage based on an adjustment factor and the prior month’s Designated Percentage.
BCE Inc. has filed an updated Code of Business Conduct setting out ethics and compliance expectations for directors, executives, employees and Canadian subsidiaries. The Code emphasizes legal compliance, conflicts-of-interest management, protection of confidential information, rigorous insider-trading restrictions, accurate books and records, and safeguarding physical and information assets.
Employees must complete Code training on hire, affirm review annually, and refresh training every two years. The Code details reporting channels, including an anonymous Business Conduct Help Line, and states that violations may result in discipline up to dismissal and possible civil or criminal prosecution. It covers respectful and inclusive workplaces, mental health, health and safety, human rights, anti-harassment and violence rules, drug and alcohol limits, data privacy, fraud prevention, political activities, anti-bribery standards in foreign dealings, and environmental responsibilities.
The Code also addresses emerging areas such as responsible use of artificial intelligence, restrictions on using confidential information for betting or prediction-market activities, and social media conduct, with clear leadership roles for business units, the Board and committees, and the Corporate Secretary’s Office.
BCE Inc. reported Q2 2026 operating revenues of $6,176 million, up 1.5% from Q2 2025, as higher service revenue offset weaker product sales. Net earnings were $629 million and EPS $0.60, down 2.3% and 4.8%, while adjusted EBITDA rose 1.0% to $2,702 million.
Cash from operating activities increased 11.0% to $2,162 million, but free cash flow declined 9.5% to $1,042 million due to 41.5% higher capital expenditures of $1,080 million. The Ziply Fiber acquisition contributed to growth in Bell CTS U.S., lifting total high-speed Internet subscribers 7.3% to 4.9 million and residential FTTH subscribers 14.7% to 3.6 million. BCE also completed $1.6 billion of Canadian MTN debentures and $650 million U.S. notes offerings, using part of the proceeds to repurchase $1,453 million of Canadian and $878 million U.S. debt. The company expects approximately $1.7 billion of capital expenditure for its planned 300 MW AI data centre in Saskatchewan.
BCE Inc. reports the results of its interconversion of Cumulative Redeemable First Preferred Shares, Series AI and Series AJ. All floating-rate Series AJ Preferred Shares will be converted into fixed-rate Series AI Preferred Shares on August 4, 2026, on a one-for-one basis.
A total of 1,875 of BCE’s 8,584,140 Series AI shares were tendered for conversion into Series AJ, while 1,976,448 of its 3,514,957 Series AJ shares were tendered into Series AI. Because this would leave fewer than 2,000,000 Series AJ shares, all remaining Series AJ shares will also convert to Series AI on that date. The Series AI shares will pay a quarterly fixed cash dividend at an annual rate of 5.10% for the five-year period beginning August 4, 2026 and will continue trading on the Toronto Stock Exchange under the symbol BCE.PR.I.
Bell Canada, guaranteed by BCE Inc., has entered into an underwriting agreement to issue US$650,000,000 of 5.450% Series US‑11 Notes due November 15, 2036. The notes are being sold to a syndicate of underwriters led by BofA Securities, Citigroup, RBC Capital Markets and Wells Fargo Securities.
The notes priced at 99.917% of principal, for a yield to maturity of 5.461%, and will settle on June 5, 2026. Interest is payable semi‑annually on May 15 and November 15, starting November 15, 2026. The notes are senior unsecured obligations of Bell Canada and are unconditionally guaranteed as to payment by BCE Inc., with make‑whole and par call redemption features outlined in the agreement.
BCE Inc., through its Bell Canada unit, is issuing new debt in Canada and the United States. Bell plans a Canadian offering of Cdn $1.6 billion of MTN Debentures in two series and a US Offering of US $650 million of senior notes, each fully and unconditionally guaranteed by BCE Inc. The Canadian MTN Debentures include Cdn $900 million 4.70% Series M-69 maturing on November 15, 2036 and Cdn $700 million 5.30% Series M-70 maturing on June 3, 2056. The US $650 million 5.450% Series US-11 Notes mature on November 15, 2036. Bell intends to use net proceeds mainly to repurchase, redeem or repay existing senior and subordinated debt, including securities targeted by concurrent tender offers, and for general corporate purposes. Closings are expected in early June 2026, subject to customary conditions.
BCE Inc. held its annual general meeting of shareholders on May 7, 2026, where all 13 director nominees were elected with strong support, generally between 97.98% and 99.10% of votes cast. Shareholders also appointed Ernst & Young LLP as auditors with 99.46% of votes in favour.
An advisory resolution on executive compensation passed with 96.00% support, indicating broad backing for the company’s pay practices. A shareholder proposal to increase participation of shareholders in annual general meetings received 1.84% of votes for and 98.16% against, and therefore was not approved.
BCE Inc. reported Q1 2026 operating revenue of $6,168 million, up 4.0% year over year, with adjusted EBITDA rising 2.9% to $2,631 million. Net earnings were $667 million and EPS was $0.66, both slightly lower than a year earlier, mainly due to higher depreciation and amortization and lower other income.
Cash flow from operating activities fell 26.9% to $1,149 million, largely reflecting higher income taxes on prior divestitures, while free cash flow was stable at $804 million. Bell CTS U.S., driven by the Ziply Fiber acquisition, contributed meaningfully to revenue and EBITDA growth, offsetting modest softness in Canadian telecom and media.
BCE advanced its AI and infrastructure strategy with a planned 300 MW Saskatchewan AI data centre requiring about $1.7 billion of capital, a $675 million agreed sale of Bell Mobility’s land mobile radio networks services business, a $1.5 billion junior subordinated notes issue, and a $750 million MTN debenture offering.